Benchmark lowered the firm’s price target on Electronic Arts (EA) to $140 from $163 and keeps a Buy rating on the shares. EA’s Q3 results reflected weaker-than-expected performance in Global Football, notes the analyst, who is lowering the firm’s target to reflect reduced near-term growth expectations. However, given the stock’s significant pullback, if FC’s weakness is indeed transitory and Battlefield delivers, this “could present an exceedingly compelling opportunity,” the analyst tells investors.
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