Electronic Arts (EA) PT Raised to $177 at Benchmark, GLUU Deal is a No-Brainer
- U.S. stocks close down on news of Biden tax proposal
- Biden To Propose Capital Gains Tax As High As 43.4% For Wealthy - Bloomberg
- Intel (INTC) Tops Q1 EPS by 24c, Offers Guidance
- Snap (SNAP) Tops Q1 EPS by 5c, DAUs were 280 million, Offers Guidance
- Credit Suisse (CS) Falls 6% on 'Unacceptable Loss' as Exposure to Archegos Grew to More Than $20 Billion, Set to Raise Over $2 Billion to Support Liquidity
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Benchmark analyst Mike Hickey raised the price target on Electronic Arts (NASDAQ: EA) to $177.00 (from $171.00) on the belief that the Glu Mobile (NASDAQ: GLUU) "deal is a no brainer". The deal is immediately accretive to EA’s revenue and grow profitability.
The analyst reiterated a Buy rating, stating "We estimate Codemaster and GLUU could add $800M in revenue and $0.40 EPS to EA’s FY22 consensus". "The acquisition will add considerable scale to EA’s mobile busines and adds compelling growth games including Design Home, Covet Fashion, MLB Tap Sports Baseball and Kim Kardashian Hollywood. We anticipate EA can leverage the success of MLB Tap Sports Baseball to create new mobile games over FIFA, Madden and Golf. GLUU has a strong near-term pipeline of games including Deer Hunter, Tap Fishing and Table and Taste."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Jefferies Assumes Electronic Arts (EA) at Buy
- Rexel SA (RXL:FP) (RXLSF) PT Raised to EUR20 at JPMorgan
- Lloyds Banking Group Plc. (LLOY:LN) (LYG) PT Raised to GBP47 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!