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UPDATE: Piper Jaffray Downgrades Electronic Arts to Neutral on Core Portfolio Weakness

Electronic Arts' EA SPORTS and FIFA Extend Licensing Agreement Until December 31, 2022 Announces Begins Beta Testing Of 'Battlefield Online'

Piper Jaffray downgraded Electronic Arts Inc. (NASDAQ: 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.

Posted-In: Piper JaffrayAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings


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