Electronic Arts price target raised to $170 from $155 at Raymond James

Raymond James analyst Andrew Marok raised the firm’s price target on Electronic Arts to $170 from $155 and keeps an Outperform rating on the shares. EA‘s Q1 results were ahead of expectations driven by Madden outperformance coupled with less severe declines in EA Sports FC and Apex Legends on a lighter release slate, the analyst tells investors in a research note. The company’s September 17 Investor Day event should provide more visibility into some of the company’s key pillars of their long-term strategy, including the creation and fostering of engagement-boosting communities around the company’s largest franchises, Raymond James says.