Activision Blizzard Analyst Roundup

Activision Blizzard, Inc. (NASDAQ: ATVI) will face difficult revenue comparisons next year because of the currently strong performance of its "Destiny" video game product, an analyst said Wednesday.

Activision beat third-quarter expectations Tuesday, citing its newly launched "Destiny" video game product as well as strong sales of existing products.

The company opened sharply higher Wednesday, trading recently at $20.57, up 3 percent.

Bank of America's Justin Post maintained a Buy rating on Activision but shaved nearly 4 percent from his price target, bringing it to $25.

Post said the company next year faces "a tough revenue headwind to make-up against Destiny," but new and pending products could help solve the difficulty.

While Post focused on full-year 2015 revenue comparisons, Jefferies Brian Pitz focused on 2015's first half, when he thinks continued sales of "Destiny" will "make comps easy."

Pitz maintained a Buy rating Wednesday and boosted his target nearly 4 percent to $27. Pitz called "Destiny" the "largest new franchise launch in video game history," accounting for $500 million of Activision's adjusted revenue of $1.17 billion in third-quarter revenue.

Activision expects fourth-quarter adjusted earnings of $0.86 per share versus Wall Street's expectation of $0.94 per share.

But Brean's Todd Mitchell thinks the outlook is likely "conservative" and maintained a Buy rating and $25 target.