As previously reported, BofA downgraded Electronic Arts (EA) to Neutral from Buy with a price target of $130, down from $170. The firm is no longer confident that EA can gain enough share of player engagement and spending to drive “meaningful growth in a struggling PC/Console game industry” without football as a main growth engine, the analyst tells investors. Despite the fiscal Q3 weakness, “big” FY25 guide-down and lower FY26 growth assumptions, the firm is awaiting evidence of whether FC is in “structural decline,” the analyst added.
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