Stifel adds Activision Blizzard to Select List, boosts price target to $65

Stifel analyst Drew Crum added Activision Blizzard to his firm’s Select List and boosted his price target for the shares to $65 from $57. The stock closed Friday at $54.58. The analyst sees possible upside for Call of Duty: Modern Warfare, which launches on October 25, as he believes expectations “have been generally lower.” Further, BlizzCon 2019 could serve as a share catalyst while Activision’s fundamentals should improve in 2020 against an easy comp, Crum tells investors in a research note. He keeps a Buy rating on the shares.