Electronic Arts (EA) PT Raised to $91 at Baird; Flagship Strength Overshadows Titanfall Concerns
- Wall Street turns defensive on Trump's protectionist stance
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- Qualcomm (QCOM) Thrashed as Apple (AAPL) Lawsuit Threatens Licensing Business Model
- McDonald's (MCD) Tops Q4 EPS by 3c
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Baird analyst Colin Sebastian reiterated an Outperform rating and raised his price target on Electronic Arts (NASDAQ: EA) to $91.00 (from $83.00) following results, saying flagship title strength overshadows near-term Titanfall concerns.
Sebastian commented, "EA reported another solid quarter, with in-line revenue and an EPS beat, driven largely by annual EA Sports releases. Most importantly, management highlighted strength in FIFA and Battlefield 1, historically the two largest sources of EA sales/profitability. While recent checks indicated softer-than-anticipated launch units/pre-orders for Titanfall 2 (management did not comment on initial sales), strong reviews (~90 Metacritic) could translate into healthier demand. Overall, we believe Battlefield and FIFA momentum carry the day. Maintain Outperform, new $91 price target."
Shares of Electronic Arts closed at $77.84 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- General Electric (GE) PT Lowered to $35 at UBS Following 4Q Report
- Kansas City Southern (KSU) PT Raised to $110 at Aegis Capital
- Halliburton (HAL) PT Raised to $65 at Evercore ISI
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!