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Fly News Breaks for October 15, 2019
ATVI
Oct 15, 2019 | 07:15 EDT
Citi analyst Jason Bazinet raised his price target for Activision Blizzard to $55 from $47 citing the strong October 1 launch of Call of Duty: Mobile. A few days following the release, Activision disclosed that the game had garnered over 35M downloads, Bazinet tells investors in a research note. The analyst "modestly" raised his revenue estimates for Activision and rolled forward his valuation framework from 2020 to 2021. However, he keeps a Neutral rating on the shares, saying both consensus forecasts and Activision's valuation reflect its growth.
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