ATVI, EA: Game Stocks Move on Upgrades, Downgrade

Both stocks have gained sharply over the past year

   

ATVI, EA: Game Stocks Move on Upgrades, Downgrade

On Thursday, video game developer stocks were moving in different directions after a Wall Street offered different assessments of their likely outlooks.

VideoGamer185 ATVI, EA: Game Stocks Move on Upgrades, Downgrade
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An analyst at Bank of America (BAC) raised his rating for Activision Blizzard (ATVI) from “Neutral” to “Buy.” He also increased his price target for ATVI stock from $20 a share to $25 a share. The BAC analyst said that a number of upcoming ATVI gaming titles promised to boost revenue and earnings for ATVI, compared to rival Electronic Arts (EA), Benzinga notes.

Video Games 200x200 ATVI, EA: Game Stocks Move on Upgrades, Downgrade
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ATVI stock climbed almost 2% in Thursday morning trading. Over the past 12 months, ATVI stock has gained more than 35%.

The same BAC analyst took a less favorable view of EA, lowering his rating for EA stock from “Buy” to “Neutral.” He also trimmed his price target for EA stock from $36 a share to $35 a share.

EA stock slipped modestly in Thursday morning trading on news of the downgrade. EA stock has gained more than 55% over the past year.


Article printed from InvestorPlace Media, http://investorplace.com/2014/03/atvi-ea-game-stocks-move-upgrades-downgrade/.

©2014 InvestorPlace Media, LLC

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