Electronic Arts (EA) PT Up to $80 at Sterne Agee CRT Amid 'Beat and Raise' Qtr

Sterne Agee CRT analyst Arvind Bhatia reiterated a Buy rating and lifted estimates and his price target on Electronic Arts (NASDAQ: EA) to $80.00 (from $70.00) following 'beat and raise' quarter.

Bhatia commented, "EA reported better-than-expected F1Q16 (June) results and raised full year guidance. F2Q initial guidance is below consensus but management attributed that to the “street” not fully factoring in the tough comp to the high-margin Sims 4 title in the year-ago quarter. EA’s product portfolio for the balance of the year as well as the next couple of years continues to look very promising and we see upside to estimates. Star Wars Battlefront could prove to be the next near-term catalyst. We are raising our full year FY16 and FY17 estimates. Our new 12-month target is $80 (up from $70)."

For an analyst ratings summary and ratings history on Electronic Arts click here. For more ratings news on Electronic Arts click here.

Shares of Electronic Arts closed at $72.30 yesterday.

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