Activision Blizzard lost half its market cap last winter, but it's on the rise again as it launches new versions of legacy video games.
and said it was going to focus more on its key franchises. Now, with new updates and sequels coming for popular brands such as Overwatch and Diablo, the stock is picking up steam.
Bank of America upgraded to stock to Buy from Neutral in late July, with analysts writing the company was "on the verge of an inflection point." Since Aug. 14, the stock has climbed more than 20%. "There's a great deal of overlap between the Switch install base and the Xbox and Playstation install base, but I do think there's an opportunity out there for them to basically sell a second copy to people who already have the game," Cohen said.
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