In a report published Wednesday, Brean Capital analyst Todd Mitchell reiterated a Buy rating and $40.00 price target on Electronic Arts (NASDAQ: EA).
In the report, Brean Capital noted, “EA reported a much stronger-than-expected F1Q15 last night but maintained its prior fiscal 2015 outlook because it decided to push the releases of two titles, Dragon Age and Battlefield: Hardline, back so it can improve the quality of both. While not terminal, we do think this is likely to have the impact of limiting potential upside for EA in fiscal 2015. As a result, we are maintaining our above guidance and consensus F2015 estimates of $4.2 million and $1.90, and we are reiterating our $40 target price, but we would look for a pullback, or greater comfort that the problems with both of the delayed titles are in fact resolved, before being more aggressive.”
Electronic Arts closed on Tuesday at $38.42.
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- UPDATE: Brean Capital Reiterates On Electronic Arts On Strong Evidence Of Efforts To Improve Financial Results
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