Analyst Upgrades: Activision Blizzard, Inc., Electronic Arts Inc., and Take-Two Interactive Software, Inc.

Analysts upwardly revised their ratings and price targets on Activision Blizzard, Inc. (ATVI), Electronic Arts Inc. (EA), and Take-Two Interactive Software, Inc. (TTWO)

by Alex Eppstein

Published on Oct 14, 2016 at 9:06 AM

Analysts are weighing in on video game stocks Activision Blizzard, Inc. (NASDAQ:ATVI), Electronic Arts Inc. (NASDAQ:EA), and Take-Two Interactive Software, Inc. (NASDAQ:TTWO). Here's a quick roundup of today's bullish brokerage notes on ATVI, EA, and TTWO.

  • Oppenheimer started coverage on ATVI with an "outperform" rating, citing the company's edge in digital distribution. Speaking of outperformance, the stock has trekked a market-beating 11.5% higher year-to-date at $43.16, and late last month hit a record peak of $45.12. It's no wonder 11 of 15 analysts rate Activision Blizzard, Inc. a "buy" or better, compared to four "holds" and not a single "sell" opinion. Not to mention, ATVI's consensus 12-month price target of $48.04 stands at a healthy 11.3% premium to current levels.

  • EA saw its price target bumped to $94 from $88 at Oppenheimer, reflecting the stock's long-term strength. Earlier this month, in fact, the shares touched an all-time peak of $86.07, and settled yesterday at $81.76, up 19% in 2016. An unwinding of heavy skepticism could fuel further gains for Electronic Arts Inc., too. For instance, the stock's 10-day put/call volume ratio of 1.42 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) registers just 10 percentage points from a 12-month high.
  • Last of all, TTWO was initiated at Oppenheimer with an "outperform" rating, citing company initiatives and positive industry trends. The stock has shot 21.6% higher year-to-date at $42.35, and late last month notched an all-time best of $46.78. Suffice it to say, short sellers could be scrambling for cover. A lofty 15.6% of Take-Two Interactive Software, Inc.'s float is sold short, which would take more than eight sessions to buy back, based on average daily volumes.
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