Activision Blizzard Delivers 'Modest Beat': Analyst Takeaways On Q2 Print, Microsoft Deal
Portfolio Pulse from Priya Nigam
Activision Blizzard (NASDAQ:ATVI) reported strong Q2 results, beating Street estimates for revenue and outperforming on profits. The company's deal with Microsoft (NASDAQ:MSFT) has been extended to October 18, with an increase in the termination fee Microsoft must pay if the transaction is terminated after August 29. Analysts from Wedbush, Truist, and Baird have maintained positive ratings for ATVI, with price targets ranging from $90 to $95.99.
July 20, 2023 | 3:02 pm
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POSITIVE IMPACT
Activision Blizzard reported strong Q2 results and extended its deal with Microsoft, which could boost its stock.
The strong Q2 results and the extended deal with Microsoft, which includes a provision for a cash dividend, are positive news for Activision Blizzard and could lead to a rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Microsoft's extended deal with Activision Blizzard could have a positive impact on its stock.
The extended deal with Activision Blizzard, which includes an increase in the termination fee Microsoft must pay if the transaction is terminated, could be seen as a positive development for Microsoft and could lead to a rise in its stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50