Robert W. Baird analyst Colin Sebastian maintained a Buy rating on Activision Blizzard (NASDAQ: ATVI) yesterday and set a price target of $85. The company’s shares closed on Friday at $77.92.
Sebastian observed:
“We view record digital unit sales of on launch day as a positive development, given the higher margins of downloads vs. disk sales, and limited apparent impact from Fortnite’s ongoing success. However, some investors may worry that aggregate sales may be lagging last year’s release, although we suspect Activision may not yet have a full view into the weekend’s retail data. As such, our unit estimates for the game are unchanged. Maintain Outperform.”
According to TipRanks.com, Sebastian is a top 25 analyst with an average return of 24.7% and a 69.8% success rate. Sebastian covers the Technology sector, focusing on stocks such as Paypal Holdings, ChannelAdvisor, and Alphabet Inc.
Currently, the analyst consensus on Activision Blizzard is a Strong Buy with an average price target of $85.46, representing a 9.7% upside. In a report issued on October 1, Wedbush also maintained a Buy rating on the stock with a $100 price target.
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The company has a one-year high of $84.68 and a one-year low of $57.29. Currently, Activision Blizzard has an average volume of 6.4M.
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Activision Blizzard, Inc. engages in the development and publication of interactive entertainment. It operates through the following segments: Activision, Blizzard, and King. The Activision segment develops and publishes interactive software products and entertainment content, particularly for the console platform.
