Bank of America Comments On Media Event Hosted by Electronic Arts
According to a recent report from Bank of America, Electronic Arts (NASDAQ: ERTS) hosted a media event showcasing demos and game trailers for nine upcoming releases. Game trailers included Mass Effect 3, Battlefield, Need for Speed, SSX, Star Wars, FIFA, Sims, Madden, Reckoning, and Overstrike. Out of the nine games, Mass Effect 3 and Battlefield had the most reception. After the event, Bank of America has remained a Neutral rating and $25.00 price target on ERTS.
In the report, Bank of America said, "We think EA's strategy to consolidate its title slate is paying off with bigger and better titles. Given recent stock run into E3 we are hesitant to turn more positive here with not much unexpected presented at the event, and would look for pullbacks to be more constructive."
Electronic Arts closed yesterday at $23.80.
