Fly News Breaks for June 12, 2019
Jun 12, 2019 | 09:10 EDT
SunTrust analyst Matthew Thornton kept his Buy rating and $107 price target on Electronic Arts after its E3 presentation yesterday, saying that "net-net", he remains "very comfortable" with his FY20 assumptions even though the out-year slate visibility around Battlefield, Titanfall, UFC, Motive, and other titles remains "low". The analyst cites the company's continued forecast of $300M-$400M in revenue from Apex Legends and 6M-8M units sales for its upcoming Jedi Fallen Order game, but sees a slight decline in Electronic Arts' sports title sales due to comping Fifa World Cup.
News For EA From the Last 2 Days
Jul 19, 2019 | 05:13 EDT
NPD video game sales data dropped 13% for the full June quarter, Piper Jaffray analyst Michael Olson tells investors in a research note. The June quarter NPD results are positive for Take-Two (TTWO) and Activision Blizzard (ATVI), with the data ahead of expectations, Olson tells investors in a research note. He adds the results are less positive for Electronic Arts (EA), but points out the data includes a difficult compare with the World Cup and does not include Apex Legends. Olson maintains Overweight ratings on all three names.