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Fly News Breaks for February 13, 2019
ATVI
Feb 13, 2019 | 09:08 EDT
Credit Suisse analyst Stephen Ju lowered his price target for Activision Blizzard to $64 from $70 following quarterly results. Given the usual 18-24 month game development cycles, the analyst is expecting revenue and free cash flow growth to return in 2020 but to a greater extent in 2021 as the company begins to reap the fruits of its investments and the release slate becomes more robust. Further, the analyst notes that 2019 initial guidance also seems appropriately conservative. He reiterates an Outperform rating on the shares.
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