Electronic Arts (EA) PT Raised to $175 at Baird
Baird analyst Colin Sebastian raised the price target on Electronic Arts (NASDAQ: EA) to $175.00 (from $170.00) while maintaining a Outperform rating.
The analyst commented: "F2Q results beat expectations and were directionally consistent with strong initial engagement and monetization of College Football, as previewed. Moreover, the successful combination of Madden and CFB is generating a larger community of American football gamers, which along with EA's leadership in global football (soccer), we believe sets the stage for more recurring revenues, operating efficiency, and over time, new revenue streams. Potential catalysts include CFB "legs", FC/Dragon Age sell-through, unannounced F4Q (March) title, any Apex improvement, hardware price cuts. Increasing price target to $175 based on revised EPS."