NEW YORK, NY / ACCESSWIRE / November 6, 2017 / Analyst price target hikes sent shares of Activision Blizzard to a new high this past Friday but the stock lost the momentum and ended up closing in the red. Traders may still be concerned about the company's lackluster third quarter financial report it delivered on Thursday. Universal Display Corporation also delivered its Q3 report on Thursday that impressed Wall Street and sent shares to a new high on Friday.

RDI Initiates Coverage on:

Universal Display Corporation
https://rdinvesting.com/news/?ticker=OLED

Activision Blizzard, Inc.
https://rdinvesting.com/news/?ticker=ATVI

Universal Display Corporation's shares closed up 9.53% on Friday with nearly 3.5 million shares traded. The stock hit a new high of $160.95 during intra-day trading after beating profit forecasts in its third quarter financial report. The company reported its third-quarter results on Thursday that had net income of $13.5 million. It was a nice change from the loss the company posted in the year-ago quarter. A profit of 28 cents per share was also way higher than the 9 cents that analysts had been waiting for. Revenue came in at $61.7 million. Looking ahead the organic light-emitted diode technology company has forecast revenue of $310 million to $320 million. Shares have almost tripled YTD.

Access RDI's Universal Display Corporation Research Report at:
https://rdinvesting.com/news/?ticker=OLED

Activision Blizzard, Inc.'s shares closed down 3.44% on Friday with nearly 19 million shares traded. The stock hit a new high of $67.03 during intra-day trading but quickly lost those gains. Shares also sank in after-hours trading last Thursday after the company announced its third quarter financial results. Net income of $188 million, or 25 cents a share, was below the $199 million or 27 cents a share that the company posted in the year-ago quarter. Adjusted earnings per share of 47 cents was also 3 cents below what analysts had expected. Revenue of $1.62 billion was also below the $1.74 billion in revenue that the Street expected. It was, however, a gain compared to the $1.57 billion in the year-ago quarter. Looking ahead, Activision has forecast full-year earnings of $2.08 per share on $6.68 billion in revenue. Analysts were expecting higher numbers of $2.14 for adjusted EPS and $6.79 billion in revenues. So what helped the stock hit a new high? Six Wall Street firms which include Baird, Jefferies, KeyBanc, Morgan Stanley, Piper Jaffray and UBS, all gave the stock price target hikes on Friday with a "buy" rating.

Access RDI's Activision Blizzard, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ATVI

Our Actionable Research on Universal Display Corporation (NASDAQ: OLED) and Activision Blizzard, Inc. (NASDAQ: ATVI) can be downloaded free of charge at Research Driven Investing.

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