Analyst: Activision to exceed Q4 guidance |
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Wedbush Morgan analyst Michael Pachter has predicted that Activision will be exceeding fourth quarter expectations of US$ 364 million. He pegged an estimate of the company's revenue at US$ 425 million, citing how the March NPD sales show that the company is doing far better than the expected 12% growth that was initially quoted:
Based upon March quarter NPD data, Activision's U.S. retail sales are 88% above the prior year quarter while revenue guidance for the quarter is only +12% over last year's level, implying strong upside.
Pachter also pointed out that Activision's revenue is not expected to grow within the next year, barring the merger with Vivendi. However, he added that the company can still "deliver significant operating leverage" and has advised investors to buy stocks with a US$ 30 price target.
We'll be finding out if Pachter's predictions hold true since Activision will be releasing its Q4 2008 performance this May 8 at the end of market day.
Via Next-Generation
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