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Actionable news in ATVI: Activision Blizzard, Inc,

Activision Blizzard (ATVI) Stock Gets Price Target Hike at Pacific Crest

NEW YORK (TheStreet) -- Shares of Activision Blizzard (ATVI - Get Report) are higher by 7.95% to $37.69 at the start of trading on Friday morning, as Pacific Crest Securities increased its price target to $40 from $36 and maintained its "overweight" rating on the stock.

The firm upped its target on the stock following the company's latest financial results.

The company reported earnings of 23 cents per diluted share for its 2016 first quarter after yesterday's market close, up from earnings of 16 cents per diluted share for the 2015 first quarter. Activision Blizzard reported record revenue of $1.46 billion compared to its 2015 first quarter revenue of $1.28 billion.

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