Activision Dinged by Analyst

Shares of Activision (ATVI Quote) took a hit Tuesday after an influential analyst removed the company from his focus list.

The video game publisher's stock has zoomed up 40% in the last two months, noted Wedbush Morgan Securities analyst Michael Pachter. While it hasn't yet hit Pachter's price target, the company soon may see disappointing sales and earnings news, reducing the possibility that the stock will continue to rise in the near future, he said.

"Most of the positive news expected for the current fiscal year [is] already reflected in the stock," Pachter said in a report issued Tuesday. (Activision is not a recent investment banking client of Wedbush Morgan.) ...