- On Monday, shares in Activision Blizzard (NASDAQ:ATVI) retrenched some after they moved to all-time highs on Friday and Hilliard Lyons went bearish on the stock partly on high valuation.
- The stock's still a buy even after a 20% rise, says Argus, and shares are back up 1% today.
- King Digital proved a bright spot for earnings, analysts noted, and Argus notes it should boost presence in Asia Pacific.
- “Activision is fighting the long-term secular decline in packaged games with increased online functionality," says analyst Joseph Bonner. "It is developing expanded, high-margin versions of its franchise games, developing ‘free-to-play’ games for that growing market segment, and introducing new game concepts."
- He raised his price target to $53, implying nearly 17% upside.