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Electronic Arts, Inc.’s (ERTS) Price Target Lowered
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Posted on 02/09/10 at 2:57pm by Ed Liston
Analysts at RBC Capital Markets have lowered the price target for Electronic Arts, Inc. (NASDAQ: ERTS) from $21 to $20. The company has reported results for the third-quarter, which came in ahead of analysts’ expectations.
However, analysts believe that the highlight has been the guidance for FY11, which is below consensus. Analysts expect the shares of the company to give back some of the recent gains.
Analysts recommend investors to add on any weakness in price as they believe that the guidance for FY11 is conservative. Analysts at RBC Capital Markets have maintained an Outperform rating for Electronic Arts, Inc.
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