Publishing kingpin sees trading boost as Goldman Sachs upgrades the firm’s shares to ‘Buy’
Shares in Activision Blizzard saw a sizable spike yesterday ahead of the publisher’s quarterly earnings report.
On Wednesday Activision's share price peaked at $11.16 after closing the day prior at $10.30.
The encouraging jump follows Goldman Sachs analyst Mark Wienkes upgrading the company's shares from ‘Neutral’ to ‘Buy’, claiming in a note to investors that stock could appreciate by 35 per cent or more, climbing above previous projections.
Activision is scheduled to post its first-quarter results next Thursday. A Thomson Reuters poll shows average analyst expectations foresee Activision posting sales of $588.7 million.
At the time of going to press, shares sit at $10.70.
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