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ATVI

Activision Blizzard

$51.35

0.52 (1.02%)

08:57
01/11/19
01/11
08:57
01/11/19
08:57

Activision Blizzard price target lowered to $52 from $60 at BMO Capital

BMO Capital analyst Gerrick Johnson lowered his price target on Activision Blizzard to $52 after its announcement that it will turn the development rights to Destiny franchise to Bungie. The analyst also lowers his FY19 EPS view by 5c to $2.60 to reflect the decision while keeping his Market Perform rating on the stock. Johnson adds that while the economics of publishing Destiny games may have turned, he ponders whether the move is "too soon on what, just a few years ago, seemed a crown jewel in the Activision Publishing portfolio."

  • 12

    Feb

ATVI Activision Blizzard
$51.35

0.52 (1.02%)

01/11/19
BNCH
01/11/19
NO CHANGE
Target $87
BNCH
Buy
Activision Blizzard price target lowered to $87 from $93 at Benchmark
After Activision Blizzard announced last night that Bungie will assume full publishing rights and responsibilities for the Destiny franchise, Benchmark analyst Mike Hickey said he believes the company is "continuing a clandestine restructuring," citing its recent management reshuffle, Blizzard cost cutting, franchise changes and headcount reductions. He has removed $177M and $496M in sales from the Destiny franchise for fiscal 2019 and FY20, respectively, from his estimates and lowered his price target on Activision Blizzard to $87, though he maintains a Buy rating on the stock.
01/11/19
STFL
01/11/19
NO CHANGE
STFL
Buy
Stifel sees limited FY19 financial impact to Activision from giving up Destiny
After Activision Blizzard announced last night that it plans for Bungie to assume full publishing rights for the Destiny franchise, Stifel analyst Drew Crum said he thinks the financial impact on his published 2019 estimates will be limited. The separation makes sense, as the relationship with Bungie seemingly deteriorated following what Activision management described as a disappointing performance for "Destiny 2: Forsaken" and Crum thinks this should free up resources to develop new IP and support existing franchises, such as Call of Duty live services, he said. He maintains a Buy rating on Activision Blizzard shares.
01/11/19
MSCO
01/11/19
NO CHANGE
MSCO
Overweight
More pipeline uncertainty to weigh on Activision multiple, says Morgan Stanley
After Activision Blizzard announced that Bungie would be taking over full publishing rights and responsibilities for the Destiny franchise, Morgan Stanley analyst Brian Nowak said he views this as in part due to a decision to reallocate resources away from Destiny, which has been recently underperforming the company's and his expectations. He estimates the impact to 2019 EPS to be only about 3%, but thinks that higher pipeline uncertainty, recent execution missteps and management departures will weigh on the stock's multiple. Nowak keeps an Overweight rating on Activision Blizzard shares, but said his model in under review.
01/11/19
MKMP
01/11/19
NO CHANGE
Target $48
MKMP
Neutral
Activision Blizzard price target lowered to $48 from $68 at MKM Partners
MKM Partners analyst Eric Handler lowered his price target on Activision Blizzard to $48 and kept his Neutral rating, citing the company's "reduced financial visibility and limited capital appreciation potential" for 2019. The analyst notes that the company's portfolio is "in need of being reinvigorated, especially with Live Service", but expects 2019 to be a year of transition for Activision Blizzard as it scales down its "non-franchise games". Handler further warns that the company's earnings could decline by high-single to low-double digits in FY19, which would require a "significant downward revision in Street estimates."

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TSS

TSYS

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0.49 (0.56%)

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UNP

Union Pacific

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HFWA

Heritage Financial

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ATU

Actuant

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TRCB

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MKGAY

Merck KGaA

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DDAIF

Daimler AG

$0.00

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Paccar

$61.58

-0.48 (-0.77%)

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CNHI

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$9.98

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NAV

Navistar

$30.98

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CMI

Cummins

$143.42

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ALSN

Allison Transmission

$47.81

-0.825 (-1.70%)

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FCX

Freeport McMoRan

$12.30

-0.08 (-0.65%)

08:03
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Earnings
Freeport McMoRan reports Q4 adj. EPS 11c, consensus 18c »

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  • 24

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FLIR

Flir Systems

$44.69

-0.04 (-0.09%)

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INGR

Ingredion

$98.16

0.27 (0.28%)

08:03
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Ingredion rating change  »

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GWW

Grainger

$297.12

-3.29 (-1.10%)

08:03
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Earnings
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UNP

Union Pacific

$154.20

-0.8 (-0.52%)

08:02
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Union Pacific CEO sees FY19 operating margins improving »

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GWW

Grainger

$297.12

-3.29 (-1.10%)

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UNP

Union Pacific

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ZEN

Zendesk

$64.38

0.43 (0.67%)

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QCOM

Qualcomm

$51.73

-2.58 (-4.75%)

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Options
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AAPL

Apple

$153.91

0.61 (0.40%)

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INCY

Incyte

$75.20

-2.11 (-2.73%)

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PGR

Progressive

$65.00

1.82 (2.88%)

07:59
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LPSN

LivePerson

$21.38

0.7 (3.38%)

07:57
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CTXS

Citrix

$108.64

0.4 (0.37%)

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WAT

Waters

$229.46

25.94 (12.75%)

07:56
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SNAP

Snap

$5.98

0.06 (1.01%)

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