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Activision +2.1% amid mixed analyst sentiments

Jan. 04, 2017 2:34 PM ETActivision Blizzard, Inc. (ATVI) StockATVIBy: Jason Aycock, SA News Editor2 Comments
  • Activision Blizzard (NASDAQ:ATVI) is up 2.1% and reclaiming its mid-December levels after Piper Jaffray added the firm to its top picks list for 2017.
  • Fast-growing services revenue is a key driver, Piper says, noting that "viewing of video game content has exploded in recent years and with a push by various companies, such as Activision, into e-sports, we expect online viewing of recorded and live game play will grow substantially in 2017."
  • Meanwhile, Cowen is cutting estimates on the belief that the newest Call of Duty entry has sold even fewer units than originally projected. The firm also expects no new release in fiscal 2017 from the Blizzard unit, pointing to silence since November's annual fan convention.
  • Cowen cut its fiscal 2017 EPS estimate by 16%, to $1.82, vs. consensus for $2.13.
  • "While the stock is likely to confront an earnings overhang in the immediate term, we think a better outlook for FY18 will eventually get shares moving higher again," Cowen says.

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