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UPDATE: Sterne Agee Downgrades Electronic Arts to Neutral

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In a report published Monday, Sterne Agee Group downgraded its rating on Electronic Arts (NASDAQ: EA) from Buy to Neutral.

Sterne Agee noted, “We are downgrading shares of EA from Buy to Neutral on concerns that the Street's FY13 estimates for EA will prove overly optimistic. We are lowering our FY13 revenue estimate for EA 5% below the Street. We believe some of the valuation premium (~28%) EA has relative to competitor ATVI (Neutral) could disappear. EA does have a more diversified portfolio and is more leveraged to next-gen consoles relative to ATVI. As such, we believe some of the premium will remain.”

Electronic Arts closed on Friday at $14.88.

Latest Ratings for EA

DateFirmActionFromTo
Apr 2016BMO CapitalInitiates Coverage onMarket Perform
Mar 2016Hilliard LyonsDowngradesBuyLong-term Buy
Feb 2016Hilliard LyonsUpgradesNeutralBuy

View More Analyst Ratings for EA
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Posted-In: Sterne Agee GroupAnalyst Color Downgrades Analyst Ratings

 

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