- JPMorgan analyst Alexia Quadrani downgraded Activision Blizzard Inc ATVI to Neutral from Overweight with a price target of $88, down from $100, implying a 37.1% upside.
- The ongoing misconduct allegations against CEO Bobby Kotick suggest an overhang will remain on the shares, Quadrani tells investors in a research note.
- The analyst says continued adverse press reports and "fresh allegations" give her pause on the company's ability to hire and retain talent and execute on its pipeline.
- Without resolution of these challenges, Activision shares will not be able to outperform, contends Quadrani.
- Related Content: WSJ Says Activision Blizzard CEO Feigned Ignorance About Employee Sexual Misconduct For Several Years
- Price Action: ATVI shares traded lower by 0.55% at $63.85 in the premarket session on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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