Activision Blizzard (ATVI) Receives a Buy from Credit Suisse

By Carrie Williams

In a report released yesterday, Stephen Ju from Credit Suisse maintained a Buy rating on Activision Blizzard (ATVIResearch Report), with a price target of $70. The company’s shares closed yesterday at $46.78, close to its 52-week low of $43.71.

According to TipRanks.com, Ju is a top 100 analyst with an average return of 17.3% and a 68.5% success rate. Ju covers the Technology sector, focusing on stocks such as Boingo Wireless Inc, IAC/InterActiveCorp, and Alphabet Inc.

Currently, the analyst consensus on Activision Blizzard is a Moderate Buy with an average price target of $61.95, a 32.4% upside from current levels. In a report issued on January 22, Piper Jaffray also maintained a Buy rating on the stock.

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Based on Activision Blizzard’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.51 billion and net profit of $260 million. In comparison, last year the company earned revenue of $2.04 billion and had a GAAP net loss of $584 million.

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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.