We’re reiterating the opportunity in Activision Blizzard (ATVI).
On April 2, 2020, we first highlighted the stock at $58.30. But we see more opportunity here.
It’s now up to $62.40 and exploding higher. Immediate-term, we’d like to see a test of $64.17. Later this year, we’d like to see it closer to$ $70 a share, especially as we near the launch of new gaming consoles from Sony and Microsoft.
Analysts at MKM Partners also just noted that it’s time to buy the stock, too.
The firm notes management is making progress toward improving the company’s near- and long-term growth prospects, as noted by Barron’s. “Now, having seen better than expected launches with major content releases such as COD: Modern Warfare and WoW [World of Warcraft]: Classic plus the successful debuts of franchise extensions, COD: Mobile and COD: Warzone, we are raising our 2020 EPS forecasts,” they wrote.
Analysts also raised their price target on ATVI to $72 with a buy rating.