Market Overview

Wedbush Raises Electronic Arts Price Target Following Solid Q2

Share:

Wedbush analyst Michael Pachter issued a note detailing his outlook on Electronic Arts Inc. (NASDAQ: 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.

Posted-In: Michael Pachter WedbushAnalyst Color Price Target Reiteration Analyst Ratings

 

Related Articles (EA)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
ALDXCantor FitzgeraldAssumes33.0
MESOCantor FitzgeraldAssumes23.0
SGENRBC CapitalMaintains109.0
ARWRChardan CapitalMaintains45.0
STMPCraig-HallumMaintains100.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Wunderlich Securities Sees Overall Positive Q3 Results For Charter Communications

UPDATE: D.A. Davidson Reiterates On Rogers Corporation On Strong Q3 Upside