UPDATE: Goldman Sachs Reinstates Electronic Arts (EA) to Buy
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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."
Shares of Electronic Arts closed at $145.97 yesterday.
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