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Monday, 6 August 2012 - New games, cost cuts may push Activision shares up 50 percent: Barron's |
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See the best of Reuters photography.  See more  The surface of Mars The continuing search for signs of life on the Red Planet.  Slideshow  Olympic bloopers Olympic athletes succumb to gravity when they flip, trip or fall.  Slideshow  New games, cost cuts may push Activision shares up 50 percent: Barron's Tweet Share this Email Print Related News UPDATE 3-Activision raises 2012 outlook, "Warcraft" gamers down Thu, Aug 2 2012 Exclusive: Vivendi mulls sale of Brazil unit GVT - sources Thu, Jul 19 2012 Analysis & Opinion When museum curators confuse price and value Trailer park worth $30 million Related Topics Tech » NEW YORK | Sun Aug 5, 2012 1:22pm EDT NEW YORK (Reuters) - Videogame maker Activision Blizzard may see its share price rise significantly, helped by the impending release of a new game and a recent business partnership in China, financial newsweekly Barron's reported in its August 6 edition. Activision shares, which are down about 10 percent this year and are currently trading at about $11.25, could rise as much as 50 percent due to new products and improved cost-cutting, with one analyst at BMO Capital Markets predicting the stock to hit $17, Barron's said. Activision, which is debt-free and repurchased shares in the first half of 2012, recently formed a partnership with Tencent Holdings, China's largest Internet provider, to make its popular "Call of Duty" game available online. Like its competitors, the Santa Monica-based company's share price has fallen due to a slowdown in demand for packaged videogames used with traditional game consoles, challenged by the growing popularity of cheaper products played on smartphones and tablets, Barron's reported. 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