NEW YORK (TheStreet) -- Activision Blizzard (ATVI) - Get Report stock closed down 4.98% to $36.98 on heavy trading volume on Friday after a market rout was triggered by the U.K.'s decision to leave the European Union.

Shares of Activision Blizzard could benefit from bullish earnings and unit sales forecasts from Pacific Crest analysts, who released a note on the video game company before today's market open.

Analysts expect the Santa Monica, CA-based company to report earnings of 46 cents per share for the 2016 second quarter, 5 cents more than the consensus for earnings of 41 cents per share.

The potential earnings upside would be driven by the success of Overwatch, a first-person shooter video game that Activision Blizzard released in May.

"We're currently at 7 million units for Overwatch in Q2; however, with the initial success and number of registered players eclipsing 10 million already, we see potential for upside," analysts noted.

Analysts maintained their "overweight" rating and $43 price target on the stock because of "the ongoing Overwatch success and expected long-tail with eSports, renewed strength in King Digital since the acquisition, and surprising rebound in consensus opinion for this year's Call of Duty: Infinite Warfare at E3."

By the end of the trading day, 10.59 million shares of Activision Blizzard had been traded, compared with its average daily volume of 7.76 million shares.

Separately, Activision Blizzard has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's revenue growth, solid stock price performance, expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.

You can view the full analysis from the report here: ATVI

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.

Image placeholder title