Wedbush Maintains Outperform on Electronic Arts Regarding Star Wars Progress

Wedbush Securities has published a research report on Electronic Arts

after the company reported that it's Star Wars franchise is tracking in-line with Wedbush estimates. In the report, Wedbush writes, "EA's MMO was released on December 20, 2011 in the U.S. and Europe. According to NPD, December U.S. sell-through of physical copies of the game was over 600,000 units, and we estimate that EA's digital distribution platform Origin likely accounted for 25 – 35% of sales domestically, suggesting that the domestic sales figure was over 800,000 units. In our view, the fan base for Star Wars, MMOs and PC games in general skews slightly more European, meaning international sales, which we estimate to be 900,000 units, exceeded the domestic figure. Our combined sell-through estimate of 1.7 million units worldwide implies sell-in of at least 2 million units shipped during the December quarter, in-line with our expectation." Wedbush maintains its Outperform rating and $29 price target on Electronic Arts, which is currently trading up $0.36 from yesterday's $17.54 closing price.