Video game publisher Activision Blizzard, Inc. (
) on Friday caught some continued bullish support from analysts at
Brean Murray Carret & Co.
The firm maintained its "Buy" rating and $16 price target on
ATVI, which suggests a massive 39% upside to the stock's Thursday
closing price of $11.49.
A Brean Murray analyst commented, "Recent announcements give
increased visibility on looming competition for Activision's two
largest franchises, Call of Duty and World of Warcraft. Microsoft's
) Halo 4 is expected to challenge COD this fall with a free season
of 50 add-on missions, while ArenaNet's will challenge WOW this
summer with the launch of its new free-to-play Guild Wars 2 MMO. We
expect Activision to aggressive meet these challenges."
Activision Blizzard shares were unchanged in premarket trading
The Bottom Line
Shares of Activision Blizzard (
) have a 1.57% dividend yield, based on last night's closing stock
price of $11.49. The stock has technical support in the $10.50
price area. If the shares can firm up, we see overhead resistance
around the $12.50-$13.00 price levels.
Activision Blizzard, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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