Benchmark Downgrades Electronic Arts (EA) to Hold
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Benchmark downgraded Electronic Arts (NASDAQ: EA) from Buy to Hold with a price target of $41.82.
Analyst Mike Hickey said, " We view the Company’s near term share price risk / reward profile balancing neutral. The Company’s shares have appreciated meaningfully, and could offer limited upside over the next couple of quarters, until execution risk is pacified and / or their fiscal ’16 growth opportunity takes shape within a current valuation consideration. The Company’s ability to cut operating expense in the future could be limited, requiring further emphasis on product performance. Management credibility remains high, and have consistently exceeded consensus."
Shares of Electronic Arts closed at $38.42 yesterday.
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