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Fly News Breaks for August 9, 2019
ATVI
Aug 9, 2019 | 05:23 EDT
Piper Jaffray analyst Michael Olson raised his price target for Activision Blizzard to $55 from $52 saying the company posted "strong" Q2 results, but guided Q3 below consensus and fiscal 2019 guidance was raised by less than the Q2 beat. The outlook may disappoint some investors, but it is typical for Activision to guide conservatively this early in the year, with the majority of revenue still to come in the second half, Olson tells investors in a research note. As such, he maintains an Overweight rating on Activision shares.
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