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Fly News Breaks for July 16, 2019
Jul 16, 2019 | 13:16 EDT
Stephens analyst Jeff Cohen noted that Konami announced a deal with Italian soccer club Juventus to appear exclusively in the Japanese developer's "Pro Evolution Soccer," which means Electronic Arts' FIFA 20 will not feature Juventus or the team's stadium. While he recognizes that Cristiano Ronaldo, the game's most recognizable player, plays for Juventus, Cohen also noted that EA stated in a blog post that the company will still have the name and likeness of all of Juventus' players and will simply rename the team in its game. Cohen said he sees this as a one-off agreement, rather than a sign of increasing competition for EA, and he would be a buyer of the shares amid today's weakness. He keeps an Overweight rating and $120 price target on the stock.