UPDATE: Electronic Arts (EA) PT Lowered to $153 at Benchmark
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(Updated - August 31, 2018 9:13 AM EDT)
(updated to add analyst comment)
Benchmark analyst Mike Hickey lowered the price target on Electronic Arts (NASDAQ: EA) to $153.00 (from $164.00) while maintaining a Buy rating.
The analyst comments "We view the Company’s near term risk/reward profile balancing neutral; key positive themes include: a somewhat compelling medium term game slate, digital monies growth (live service + digital download), strong cash generation and operating leverage and a meaningful share repurchase plan, somewhat offset by an exceedingly competitive holiday window, increased op-ex expense growth, negative FX trends and recent miss-execution on game quality. We believe the potential commercialization of a premium subscription and streaming service can greatly expand TAM, per player monetization and margin; potentially transformation for the Company’s long term growth profile."
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