Jefferies Upgrades Electronic Arts (EA) to Buy, $80 PT
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Rating Summary:
28 Buy, 17 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Jefferies US Interactive Entertainment Team upgraded Electronic Arts (NASDAQ: EA) from Hold to Buy with a price target of $80.00 (from $58.00).
The team commented, "EA looks well positioned against two multi-year tailwinds: faster than expected console sales and the transition to higher-margin digital revenue. On top of this, EA's multi-year game pipeline looks the best we've ever seen, starting this holiday with Star Wars Battlefront. And the company will return 50% of FCF to investors starting with a $1B, 2-yr buyback. Based on earnings power, we think the stock has plenty more room to run."
FY 2015 EPS was raised from $2.76 to $3.08.
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 $66.58 yesterday.
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