Electronic Arts (EA) PT Raised to $181 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on Electronic Arts (NASDAQ: EA) to $181.00 while maintaining a Buy rating.
The analyst commented, "EA delivered a significant F4Q21 beat and initiated strong F1Q22 and FY22 financial guidance. Live services ex-mobile was key determinant of financial upside in the quarter, or up 39% in the quarter and represented an impressive 62% of total FY21 revenue. Live service offers a player social network with both a predictable and strong enabler of elevated retention, engagement, and monetization. EA guided FY22 18% revenue growth, exceeding consensus, of which we approximate organic growth was high single digit. Key growth considerations include EA Sports, Battlefield (+mobile) and Apex Legends (+mobile). We anticipate additional upside from potential cost synergies from Glu Mobile, Codemasters, and Metalhead Software that have not been included into FY22 profitability guidance."
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