After Activision Blizzard announced that "Call of Duty: Mobile" will be launching in the Americas, Europe and elsewhere with a public beta coming this summer, Morgan Stanley analyst Brian Nowak listed four reasons he sees for why the game "matters." Namely, he sees CoD: Mobile as a way for the company to capitalize on its leading intellectual property in the rapidly growing free-to-play and mobile markets; he noted that there are multiple annual billion dollar revenue games in China alone, noting that even a $500M revenue mobile franchise would add 9% to 2020 EPS; he said he doesn't have the game in his model, meaning its "all optionatlity"; and he views the game as another opportunity to prove Call of Duty is still a AAA franchise. Nowak keeps an Overweight rating and $55 price target on Activision Blizzard shares.