Loading...
Loading...
In a report published Monday, Stifel analyst Drew Crum reiterated a Buy rating on
Activision BlizzardATVI, and raised the price target from $22.00 to $24.00.
In the report, Stifel noted, “ATVI remains our top pick for 2014, based on the following: 1) a strong game pipeline which is expected to drive significant y/y growth; 2) industry catalyst: we see Activision Blizzard as a beneficiary of the new gen console cycle; and 3) reasonable valuation: notwithstanding Friday's move, at 14.8x and 13.3x our 2014-'15 estimates, respectively, the shares are still amongst the cheapest on our coverage list. Our $24 target price incorporates a blended methodology, and assumes the stock trades at 16x+ forward earnings.”
Activision Blizzard closed on Friday at $19.64.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in