Activision Blizzard (ATVI, $50.94) shares get downgraded by Bernstein

Activision Blizzard shares were falling on Wednesday, following a rating downgrade from Bernstein.

Analysts at Bernstein downgraded the video game company to underperform from market perform. According to these analysts, investors are "paying too much for hope" surrounding recently released mobile versions of Activision’s shooting games.

Bernstein analyst Todd Juenger indicated that he/his team cannot match the current stock price with the company's risk-adjusted fundamentals.

Jeunger pointed towards sales forecasts on recently released mobile versions of Activision Blizzard's "Call of Duty" and "World of Warcraft Classic" games, and said that the company is too reliant on shooting games that in his opinion do not carry enough "franchise sustainability" over the longer term. The analyst is more optimistic on sports games.

However, Juenger did increase his one-year price target on the stock to $43 from $41 (which is still the lowest among Wall Street analysts who cover the Activision).

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Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.