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The Activision Blizzard news comes from Oppenheimer’s analyst Andrew Uerkwitz. This causes it to bump the company from a previous rating on “Perform” to a new rating on “Outperform.”
So what exactly does Uerkwitz have so low on ATVI shares? The video game company is releasing a new game in the Call of Duty series called CoD: Warzone today. To agree with this, the falling price of the share recently is an incentive for investors who want to jump in on it, MarketWatch reports.
CoD: Warzone is a free game in the Call of Duty series. It is a fighting game in the same direction as Epic Games ‘Fortnite and Electronic Arts’ (NASDAQ: EA) Apex Legends. Activision Blizzard is likely to mimic the success of similar games with this release.
While CoD: Warzone may be free to play, that does not mean there is no way to spend money on the game. It includes the addition of a Battle Pass, which allows players to unlock additional rewards as they play the game.
What does not come with this upgrade from Oppenheimer’s analysts is a new price target. Uerkwitz maintains its $ 68 per share price target for ATCI shares. That’s 18.57% higher than the share’s closing price of $ 57.35 on Monday.
The ATVI share rose by 2.93% as of Tuesday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/activision-blizzard-news-bumps-atvi-stock-up/.
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