Piper Jaffray downgraded Electronic Arts Inc. EA from Overweight to Neutral and lowered the price target from $18.00 to $14.00.
Piper Jaffray noted, "Downgrading to Neutral and lowering estimates after a weak holiday NPD. A series of initiatives that have faced challenges has formed a pattern that leaves us less optimistic that the company will see a near-term (next 1-2 quarters) recovery. EA has had recent success with several franchises and digital initiatives, yet difficulties in 2012 have overshadowed these victories. It was, therefore, important for EA to have a strong holiday to regain investor confidence and build momentum into 2013. Holiday has been challenged by weakness in Medal of Honor."
Electronic Arts closed at $14.00 on Thursday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in