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BMO upgrades Activision Blizzard, says selling pressure has run its course

In this photo illustration an Activision Blizzard logo seen displayed on a smartphone.
Igor Golovniov | SOPA Images | LightRocket via Getty Images

It's time for Activision Blizzard's stock to climb higher once again, according to BMO Capital Markets.

Shares of the video game publisher jumped more than 50% in 2020, but the stock has mostly traded sideways since. BMO analyst Gerrick Johnson said in a note to clients that the trading pattern should soon break higher and upgraded the stock to outperform from market perform.

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