Activision Blizzard Earnings Outlook After Blizzcon and Call of Duty

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  • #18898
    Super Harley
    Participant

    Video game publisher Activision Blizzard  reports third quarter earnings…

    [article]1192[/article]

    #21374
    ThePitBoss
    Participant

    Bank of America upgraded Activision Blizzard to ‘buy’ from ‘neutral’

    Bank of America said the game maker was on the cusp of having one of the more “potent” content slates in to the future.

    “Upgrading to Buy from Neutral and taking PO to $56 vs. $54 on 21x ’20 EPS vs. EA at 18x. Our positive view is based on: 1) improving competitive outlook for CoD; 2) mobile catalysts (CoD late-3Q/Diablo late-4Q); 3) enthusiasm into BlizzCon in Nov; 4) P/E near multi-year low; and 5) our multi-factor stock screen. ATVI is on the verge of an inflection where the investment in people/content this year translates into one of the more potent content slates in the group over the next several years; justifying the premium to EA. ”

    #21867
    ThePitBoss
    Participant

    Stifel added Activision Blizzard to the ‘select list’

    “Our positive view on the shares is based on a combination of factors including
    1) possible upside for Call of Duty: Modern Warfare (launching October 25th) where expectations have been generally lower;
    2) BlizzCon 2019 serving as a potential catalyst; and
    3) improving fundamentals in ’20 against an easy comp.

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