Electronic Arts (EA) PT Raised to $91 at Baird; Flagship Strength Overshadows Titanfall Concerns

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."

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 $77.84 yesterday.

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