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Fly News Breaks for March 12, 2018
ATVI
Mar 12, 2018 | 07:20 EDT
Oppenheimer analyst Andrew Uerkwitz raised his price target on Activision Blizzard to $87 from $78 following meetings at the company's headquarters with CFO Spencer Neumann. In a research note to investors, Uerkwitz said he had "positive" takeaways from the meetings, during which management highlighted mobile as the "most exciting driver" for 2018. The analyst said he was "impressed" with the professional operation of Overwatch League live events and the state-of-the-art esports facility at Blizzard Arena. Additionally, he noted that Activision's management reiterated that it considers the loot box backlash a "low risk issue" to the company. Uerkwitz maintains an Outperform rating on shares.
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