UPDATE: Raymond James Starts Electronic Arts (EA) at Outperform
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Raymond James analyst Andrew Marok initiates coverage on Electronic Arts (NASDAQ: EA) with a Outperform rating and a price target of $164.00.
The analyst comments "EA’s combination of a dominant sports lineup with a diverse portfolio of owned-IP franchises give the company a highly-competitive content lineup. We see plenty to like in the company’s current portfolio, including growth in pex Legends, reliable contributions from sports titles, and recent strong execution in StarWars games. We see a strong outlook for the company’s portfolio, including continued scaling of Ultimate Team, non-sports opportunities in pexLegends mobile and the return of Battlefield, and the addition of Codemasters’ racing properties to its sports lineup. These factors, combined with a relatively attractive valuation relative to peers, gives us confidence in EA’s growth trajectory."
Shares of Electronic Arts closed at $146.00 yesterday.
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