activisionblizzard logo Activision faces 50 percent share price increase

Activision Blizzard may see its share prices skyrocket by as much as 50 percent due to cost-cutting measures and new games, according to a financial newspaper.

Activision Blizzard may see its share prices skyrocket by as much as 50 percent due to cost-cutting measures and new games, according to a financial newspaper.

 
Barron's predicts that stock for the game company, responsible for many popular games and franchises like Call of Duty and World of Warcraft, will rise to a price of $17 per share, roughly 50 percent higher than the current value of $11.46, which is already 3 percent higher than the opening price today.
 
Activision shares are down 10 percent this year, largely due to a slowdown in the console market as smartphones and tablet computers lure away some gamers, but if Barron's forecast is correct, Activision will see a major comeback in the second half of the year.
 
activisionblizzard logo Activision faces 50 percent share price increase
 
One major reason for the positive outlook on Activision shares is its recent deal with China's largest internet service provider, Tencent Holdings, to provide online gaming for Call of Duty in the country.
 
The company has also cleared its debt and cut costs, including game cancellations and studio closures, over the past year, freeing it up to buy back some of its own shares earlier this year.
 
Source: Reuters