Credit Suisse Upgrades Electronic Arts to Outperform (EA)
Electronic Arts (NYSE:EA) was upgraded by Credit Suisse from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $29.00 price target on the stock, down from their previous price target of $30.00. Credit Suisse’s price target would suggest a potential upside of 29.12% from the company’s current price.
The analysts wrote, “Our positive change in stance is not about the December quarter report but rather on the following three factors – hence we view weakness on softer- near-term data points from the hardware transition as a buying opportunity given: 1) expected continued portfolio rationalization adds additional comfort to cost containment/discipline agenda, 2) better visibility on long-term product roadmap, 3) more attractive valuation given recent pullback on Battlefield development-related concerns,”
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest reiterated a “sector perform” rating on shares of Electronic Arts in a research note to investors on Thursday, December 5th. Separately, analysts at Hilliard Lyons upgraded shares of Electronic Arts from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, December 4th. Finally, analysts at Thomson Reuters/Verus upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 2nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.54.
Electronic Arts (NYSE:EA) traded up 0.36% during mid-day trading on Tuesday, hitting $22.46. The stock had a trading volume of 9,022,588 shares. Electronic Arts has a 52-week low of $13.99 and a 52-week high of $28.13. The stock has a 50-day moving average of $22.5 and a 200-day moving average of $24.83. The company has a market cap of $6.943 billion and a P/E ratio of 30.45.
Electronic Arts (NYSE:EA) last released its earnings data on Tuesday, October 29th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.12 by $0.21. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $977.75 million. During the same quarter last year, the company posted $0.15 earnings per share. Electronic Arts’s revenue was down 3.7% compared to the same quarter last year. Analysts expect that Electronic Arts will post $1.29 EPS for the current fiscal year.
Electronic Arts Inc develops, markets, publishes and distributes game software content and services that can be played by consumers on a variety of video game machines and electronic devices (NYSE:EA).
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