Wedbush Morgan’s Michael Pachter has issued a note stipulating the company has increased it’s market valuations of Activision, THQ and Ubisoft with Acti shares rising to $16 from $13.75, THQ to $9 from $5.50 and Ubi to €21 from €16.50.
Why the price hike? “Since the end of March overall stock market valuations have increased significantly and valuations for entertainment companies have increased even further,” says the note.
“We were initially skeptical about whether the market rally was sustainable, but now feel that overall market valuations have stabilized and, as such, are raising the price targets for three of our covered entertainment software companies – Activision, THQ, and Ubisoft.”
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