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Fly News Breaks for September 4, 2019
EA
Sep 4, 2019 | 07:33 EDT
Wedbush is removing Electronic Arts from its Best Ideas List, as the firm sees few near-term catalysts ahead of the launch of Star Wars Jedi: Fallen Order in mid-November. In addition, Wedbush is less confident in upside to guidance for free-to-play title Apex Legends, as it appears to be performing within the guidance range over its first six months. Analyst Michael Pachter has an Outperform rating and a $122 price target on the shares.
News For EA From the Last 2 Days
EA
Oct 22, 2019 | 06:27 EDT
Barclays analyst Deepak Mathivanan downgraded Electronic Arts to Equal Weight from Overweight with a price target of $99, down from $104. The shares are currently trading below the middle of their historical valuation range, but the discount is justified, Mathivanan tells investors in a research note. The analyst expects the majority of EA's earnings growth next year will come from buybacks rather than business fundamentals. After a string of disappointing results from the last Star Wars title, Battlefield V and Anthem, investors will need to see a couple of successful title releases before Electronic Arts' multiple reverts back to its historical mean, contends Mathivanan.
EA
Oct 21, 2019 | 19:53 EDT
Barclays analyst Deepak Mathivanan downgraded Electronic Arts to Equal Weight from Overweight with a $99 price target.