Activization Blizzard: Jefferies raises target price
(CercleFinance.com) - An analyst at Jefferies said this Thursday that the broker is raising its target price for the Activision Blizzard share, after questioning some 600 American gamers about their interest in the group's upcoming games.
"CoD Modern Warfare 4 screened as the most highly demanded game with 36% planning to buy the game. (...) We estimate that every 1M units sold contributes ~3c to annual EPS. Also, Fortnite interest appears to be fading as evidenced by the decline in Twitch viewership and survey results which show ~68% of the panel do not play the game," said the analyst, who has a buy rating on the share.
Jefferies has a new target price of 65 dollars, compared with the share's current price of slightly less than 55 dollars.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"CoD Modern Warfare 4 screened as the most highly demanded game with 36% planning to buy the game. (...) We estimate that every 1M units sold contributes ~3c to annual EPS. Also, Fortnite interest appears to be fading as evidenced by the decline in Twitch viewership and survey results which show ~68% of the panel do not play the game," said the analyst, who has a buy rating on the share.
Jefferies has a new target price of 65 dollars, compared with the share's current price of slightly less than 55 dollars.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.