Videogame stocks are seeing more bullishness this morning (if not share price gains today), as stay-at-home orders soldier on nationwide.
“Higher multiples are justified” given some strong tailwinds, Morgan Stanley says in observing the stay-at-home effect. “Publishers continue to see increased player bases, engagement, and in-game monetization” during the duration of the pandemic crisis.
It’s reiterated its Overweight rating on Activision Blizzard, Take-Two Interactive Software , Zynga and Glu Mobile . As for Electronic Arts, which it rates Equal Weight, it’s bumped its price target to $105 from $100, cutting implied downside to 7%.
Meanwhile, Benchmark has given a small lift to its Activision target, to $74 from $72. That implies 14% upside.
- JD teams up with Pokémon GO to create 300 new PokéStops across the UK and Europe - October 24, 2021
- One Military Camp calls for new recruits on Steam - October 24, 2021
- Mother of All Secrets | From the people behind The Life and Suffering of Sir Brante! - October 24, 2021