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Fly News Breaks for February 13, 2019
ATVI
Feb 13, 2019 | 07:49 EDT
Wedbush analyst Michael Pachter lowered his price target for Activision Blizzard to $56 from $64 after the company's Q4 revenue fell below guidance and estimates driven by softer-than-anticipated Call of Duty sales and in-game monetization for Blizzard titles. Nonetheless, the analyst believes Activision Blizzard could deliver outsized earnings growth by scaling King's ad business, accelerating mobile releases, and making certain titles free-to-play. He reiterates an Outperform rating on the shares.
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