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Benchmark gives Activision, EA Street-high targets

Jan. 06, 2020 7:18 AM ETEA, ATVIBy: Brandy Betz, SA News Editor3 Comments
  • Benchmark names Activision Blizzard (NASDAQ:ATVI) and Electronic Arts (NASDAQ:EA) as top picks, citing product launches during a less competitive holiday season.
  • Analyst Mike Hickey raises his ATVI target from $68 to $72, expecting the company to deliver financial upside in Q4.
  • The analyst lifts EA from $129 to $137 and expects management to raise its FY20 outlook.
  • For EA, Hickey sees "improving investor sentiment, relative valuation, existing Live Service portfolio, game pipeline, console releases, and balance sheet" driving "positive valuation consideration."
  • Benchmark maintains a Buy rating on both stocks. ATVI and EA have a Bullish average Sell Side rating.
  • ATVI shares are down 1% pre-market to $58.10. EA shares are flat at $106.99.

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