Electronic Arts price target raised to $160 from $154 at BMO Capital

BMO Capital raised the firm’s price target on Electronic Arts (EA) to $160 from $154 and keeps an Outperform rating on the shares. The company delivered a solid earnings beat-and-raise in Q2 against elevated expectations as strength in sports titles offset underperforming Apex Legends, the analyst tells investors in a research note. Electronic Arts also highlights that hours played across American Football titles were up 140%, suggesting that College Football is complementary rather than cannibalistic to its overall portfolio, BMO noted.