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.
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