Credit Suisse Upgrades Electronic Arts to Outperform from Neutral, Lowers PT to $29.00 from $30.00

In a report published Tuesday, Credit Suisse analyst Stephen Ju upgraded Electronic Arts, Inc. EA to Outperform from Neutral, lowering its price target to $29.00 from $30.00. According to the report, the target price adjusts modestly lower to $29 as FY14 Adj. EPS estimate is decreased to $1.26 vs. $1.41 prior. “Our positive change in stance is not about the December quarter report but rather on the following three factors – hence we view weakness on softer- near-term data points from the hardware transition as a buying opportunity given: 1) expected continued portfolio rationalization adds additional comfort to cost containment/discipline agenda, 2) better visibility on long-term product roadmap, 3) more attractive valuation given recent pullback on Battlefield development-related concerns,” the report noted. EA closed Monday at $22.38 with shares trading down at 2.74 percent.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorUpgradesAnalyst RatingsCredit SuisseStephen Ju
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!