Deutsche Bank Has Buy On Activision-Blizzard (ATVI)

Deutsche Bank has a Buy rating and a $15 price target on Activision Blizzard, Inc. ATVI, after it reported earnings after the bell yesterday. In a note to clients, Deutsche Bank writes, "We reiterate our BUY investment rating on shares of A|B and maintain our $15 price target. We think that the shares should trade higher as digital and online subscription based revenues (Blizzard) power both growth and profits in years to come and offer high visibility. Yet, the current multiple reflects a discount to growth (against peers and content subscription companies). With the likelihood of a good holiday Q ahead and downside support from buybacks, we would remain buyers of shares of A|B at current levels." Shares of ATVI gained 18 cents yesterday to close at $11.63, a gain of 1.6%.