Electronic Arts (EA): Upside Likely - Benchmark
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Benchmark analyst, Mike Hickey, reiterated his Hold rating on shares of Electronic Arts (NASDAQ: EA) along with his price target of $98 but sees "the potential for meaningful upside relative financial expectations".
The company’s product slate includes BF1, which generated nearly +13M beta players. The game is owned IP, internally developed and a player base that index favorably toward digital content. The analyst believes sales in fiscal ’18, should benefit from a mix shift toward digital.
The analyst expects reported financial upside over current expectations, a compelling forward game slate over current-gen console growth, digital market / service elevated growth, strong cash generation and operating leverage through cost controls; offset somewhat by less visibility on fiscal ’18 frontline growth opportunity and on-going global economic concerns.
Shares of Electronic Arts closed at $82.77 yesterday.
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