Activision Blizzard price target lowered to $58 from $69 at BairdBaird analyst Colin Sebastian lowered his price target on Activision Blizzard to $58 from $69 following Q4 results. The analyst said management announced several strategic changes and a revamped corporate structure as well as provided guidance which reflect headwinds for "Call of Duty" and in-game transactions for Blizzard franchises. Despite ongoing execution risks, he believes management's sense of urgency is justified and should translate into improving digital growth. Sebastian maintained his Outperform rating on Activision Blizzard shares. |