Benchmark analyst Mike Hickey downgraded Activision Blizzard (ATVI) to Hold from Buy with a $90 price target. The firm believes U.S. District Judge Jacqueline Scott Corley’s decision is “a major victory” for Microsoft (MSFT) and should provide a path for them to complete the proposed acquisition of Activision. The firm, which also believes Microsofts’s successful acquisition of Activision could provide a catalyst for further video game industry consolidation, points to Take-Two (TTWO), Roblox (RBLX), Electronic Arts (EA) and Ubisoft (UBSFY) as potential acquisition candidates.
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