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Fly News Breaks for June 24, 2016
ATVI
Jun 24, 2016 | 09:17 EDT
Pacific Crest analyst Evan Wilson said that the profitability of Activision Blizzard's Overwatch is underappreciated, pointing to the game's heavy PC mix, strong digital download percentage, low capitalized software expense and lack of IP royalty. He believes that the consensus EPS estimate for Activision's Q2 is still conservative despite all of the news and early success of the game. Pacific Crest keeps an Overweight rating and $43 price target on Activision shares.
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