Activision, EA get higher targets from Mizuho after E3

|About: Activision Blizzard, Inc (ATVI)|By:, SA News Editor

Positivity continues to roll in for big videogame makers after E3, with Activision Blizzard (ATVI +2.6%) and Electronic Arts (EA +2.8%) getting new higher price targets from Mizuho.

The firm reiterated Buys and boosted its target on ATVI to $65 from $58 (implied upside of 7.8%) and on EA to $124 from $115 (implied upside of 9.1%).

"Post-E3, we are more bullish on their key titles and digital prospects," writes analyst San Phan. "With a clearer path to revenue growth, higher recurring digital sales, and margin expansion, we believe ATVI and EA continue to get re-rated among investors and warrant slightly higher target multiples."

His standouts (like those of Pacific Crest) were Activision's Destiny 2 and Call of Duty: WWII, and EA's Star Wars: Battlefront 2.