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Fly News Breaks for June 18, 2018
TTWO, ATVI, EA
Jun 18, 2018 | 08:33 EDT
After attending E3 and hosting private meetings with executives for the "big three" video game makers, Benchmark analyst Mike Hickey raised his target multiple on all three stocks by 20%, to 30x from 25x. Given the higher multiples, he raised his price target on Electronic Arts (EA) to $164 from $141, upped his target on Activision Blizzard to $93 from $80 and increased his target on Take Two Interactive (TTWO) to $156 from $135. Hickey maintains Buy ratings on all three video game makers' stocks.
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