Analyst Says Investor Concerns with EA's (EA) Star Wars MMORPG 'Overdone'
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Price: $209.70 --0%
Rating Summary:
15 Buy, 32 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 32 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Shares of Electronic Arts (Nasdaq: EA) are outperforming broader equities Friday following a nearly 4 percent decline on Thursday amid concerns about the company's Star Wars: The Old Republic MMORPG and recent NPD data.
Reassuring comments from Macquarie's Ben Schachter may be prompting traders to buy this afternoon: EA shares are now up 2.6 percent to $18 even.
The analyst, who currently rates EA shares an Outperform with a $26 price target, called the recent worries "overdone" and insisted initial sales of the game will be "decent." Schacter believes if the game can hit the firm's initial sell-in target of 1.5 million units, the stock may see a sharp 10-15 percent rebound from current levels.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of EA.
Reassuring comments from Macquarie's Ben Schachter may be prompting traders to buy this afternoon: EA shares are now up 2.6 percent to $18 even.
The analyst, who currently rates EA shares an Outperform with a $26 price target, called the recent worries "overdone" and insisted initial sales of the game will be "decent." Schacter believes if the game can hit the firm's initial sell-in target of 1.5 million units, the stock may see a sharp 10-15 percent rebound from current levels.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of EA.
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