Activision stock rises 11% after analyst support

By Mike, Thursday, 8 January 2009 11:52 GMT

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After Activision’s share price dropped to $8.14 last Tuesday – the lowest its been since November 2006 – its stock value bounced back by 11 percent at close of trading yesterday due to an analyst note from Piper Jaffary supporting the publisher’s 2009 portfolio.

“Following 11 per cent growth during November, we continue to project 5 per cent-plus growth to industry game software sales during the month of December,” read the note.

“Our checks suggest that Activision’s portfolio of ‘must-have’ titles performed well in the US and in international markets. With a meaningful portion of the top 20 selling games, we believe that Activision is taking share and has out-performed its peer group by a wide margin.”

Thanks StreetInsider via GI.

By Mike Bowden

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