UPDATE: Goldman Sachs Reinstates Electronic Arts (EA) to Buy

Goldman Sachs analyst Michael Ng reinstates Electronic Arts (NASDAQ: EA) from Neutral to Buy with a price target of $170.00.

The analyst comments "A should benefit from (1) strong live services momentum (e.g., FIFA and Madden Ultimate) as stay-at-home measures continue to drive heightened video game engagement; (2) launches of Apex Legends mobile and in China, in addition to Battlefield in F2022 (GSe: 8 mn units during launch quarter); (3) the continuation of share buybacks after pausing buybacks throughout most of 2020 and tuck-in M&A; and (4) optionality from new product announcements including new Star Wars games and next-gen exclusive game modes for Battlefield."

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 $145.97 yesterday.

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