With almost all the first-quarter earnings releases in the book, many of the firms we cover on Wall Street have refined and tweaked their lists of top stock recommendations to institutional and high net worth clients. In a new research report, Jefferies listed some of the firm’s top current franchise picks.
We screened the Jefferies list for some of the top stocks that the firm likes now. We selected four that have outstanding upside potential for investors.
Activision Blizzard Inc. (NASDAQ: ATVI) is a big video game player with teens, whether it be on gaming consoles or mobile. The company’s Hearthstone: Heroes of Warcraft was a huge top-20 Mobile (iPhone, iPad, and Google Play) chart winner last year. In addition, top console winners include last summer’s Call of Duty: Advanced Warfare, which was another huge hit in the Call of Duty franchise, which has propelled earnings for the industry powerhouse.
This stock is a top franchise pick at Jefferies, and they like many feel the solid product line, which includes Heroes of the Storm, Overwatch, expanding Hearthstone and Destiny digital content offerings and Call of Duty Online being offered in China will help continue strong product sales. The company also recently settled a long simmering shareholder lawsuit, which helps remove some headline risk overhang.
Activision investors are paid a 0.9% dividend. The Jefferies price target for the stock is $26. The Thomson/First Call consensus price target is $27.61. Shares closed Friday at $25.49.
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