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Benchmark gives Activision, EA Street-high targets

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

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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