UPDATE: Sterne Agee Upgrades Electronic Arts to Buy on Improving Investor Sentiment

Sterne Agee upgraded Electronic Arts (NASDAQ: EA) from Neutral to Buy and announced a $22.00 price target.

Sterne Agee said, "We are upgrading shares of EA from Neutral to Buy. The good news is that the bad news is out and investor focus is shifting to the start of the next-generation console cycle. In other words, we may be at an inflection point in terms of investor sentiment, even though fundamentals may still weaken a bit before getting better. Our sense is many investors are looking beyond the near term."

Electronic Arts closed at $16.89 on Tuesday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.