Wedbush Raises Electronic Arts Price Target Following Solid Q2

Wedbush analyst Michael Pachter issued a note detailing his outlook on Electronic Arts Inc. EA following a better-than-expected second quarter.

Pachter commented, "EA's strong presence on the next-gen consoles positions the company to thrive in 2015 and beyond."

He went on to note the company beat on both the top and bottom lines with revenue of $1.22 billion and an EPS of $0.73 vs. consensus estimates of $1.16 billion and $0.53, respectively.

However, the main topic of his report was the push back of the "Battlefield 5" release date from fiscal-year 2016 to fiscal-year 2017

Pachter commented, "While Battlefield Hardline fills a hole in EA's portfolio and replaces the now defunct Medal of Honor, the delay of Battlefield 5 once again makes revenues volatile and more difficult to model."

That being said, he said it is clear that the company plans to use "Star Wars Battlefront" as its holiday release, which will set up a strong but beatable comp for the "Battlefield 5" release.

Shares of Electronic Arts were down slightly in Thursday's pre-market session.