Barclays analyst Mario Lu raised the firm’s price target on Activision Blizzard to $100 from $95 and keeps an Overweight rating on the shares. While the Microsoft deal is "likely dead in water," the stock’s selloff yesterday is a "strong buying opportunity," the analyst tells investors in a research note. The firm says Activision has a "cheap relative valuation" to Electronic Arts (EA), momentum in core franchises, along with upcoming catalysts in Diablo 4/Warzone Mobile.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on ATVI:
- Activision’s CEO Terms U.K. Regulator’s Decision as ‘Flawed’
- Electronic Arts downgraded to Market Perform from Outperform at BMO Capital
- Blocked Activision Deal Hits VMware Stock
- Activision Q2 bookings guidance looks ‘conservative,’ says Truist
- Activision calls CMA decision ‘irrational and inconsistent with the evidence’
