BMO Capital Reiterates Outperform on Electronic Arts After Announcement of Change in Leadership
BMO Captial analyst Edward Williams published a report on Electronic Arts (NASDAQ: EA) that reiterated its Outperform rating and price target of $20 after the announcement of a change in leadership at the end of March.
In the report BMO Capital said, "EA announced that John Riccitiello has resigned as CEO and as a member of the board of directors, effective March 30. The board has appointed Larry Probst as executive chairman while it conducts a search for a permanent CEO. The company also stated that its revenues and EPS for the March quarter will be at the low end, or slightly below, previously issued guidance."
Electronic Arts closed Monday at $18.71.
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