Electronic Arts' (EA) Apex Legends' 3v3 Arena-Shooter is an Evolutionary Step Forward - Jefferies

Jefferies analyst Andy Uerkwitz reiterated a Buy rating and $165.00 price target on Electronic Arts (NASDAQ: EA) after Respawn Entertainment unveiled the new updates for Apex Legends' Season 9, including a new 3v3 arena-shooter mode intended to sit alongside core battle royale as a permanent addition to the game. The new mode, called Arenas, is a clear step forward for Apex Legends as EA continues committing development resources to the franchise in order to compete in the larger shooter genre beyond battle royale.

The analyst stated "While still early, the initial reaction to the announcement has been positive. We believe the new mode will help bring in new and returning players, while having a cross-polination impact as Arenas will share the existing cosmetics and battle pass monetization systems with battle royale. We expect EA to learn from Call of Duty's success in tying its arena-shooter and battle royale modes together with Warzone, resulting in an overall boost in engagement."

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 $143.79 yesterday.

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