In a report published Wednesday morning, Stifel provided a preview of Electronic Arts Inc.'s (NASDAQ: EA) third quarter fiscal 2015 earnings, which the company is scheduled to report on January 27. The firm slightly increased its estimates for the quarter and for the full years of 2015 and 2016.
Stifel maintained a Buy rating and a $53 price target, which implies an upside of approximately 10 percent from current prices.
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Shares traded recently at $48.24, up about 1 percent on the day.
Stifel estimates non-GAAP EPS of $0.95, up from the previous projection of $0.93, on revenue of $1.31 billion, versus $1.292 billion previously expected. For 2015, EPS estimates were raised from $2.07 to $2.09, and from $2.42 to $2.46 in 2016, on respective revenue of $4.2 billion (F2015E) and $4.5 billion (F2016E).
According to the report, the modest increase to estimates reflects better-than-expected performance “for new releases + digital which should help gross margin. With ongoing momentum for the next gen console cycle, a better slate planned for FY2016 (in our opinion), further margin upside, and we think an eventual dividend payout, we continue to recommend purchase of the shares.”
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