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Fly News Breaks for June 16, 2016
EA, ATVI
Jun 16, 2016 | 14:04 EDT
After attending the Electronic Entertainment Expo, or E3, Baird analyst Colin Sebastian said the event reinforced his positive view of the video game sector and showcased the continuing momentum for console and online gaming. The analyst increased his estimates for Activision Blizzard (ATVI) to reflect 8.5M unit sales for its Overwatch game and upped his price target on the stock to $43 from $42. He also said Electronic Arts' (EA) Battlefield 1 stole the show and that the company's FY17 guidance could prove conservative. The firm keeps Outperform ratings on both EA and Activision.