- The shares of Electronic Arts (EA) recently received a $155 price target from BofA. These are the details.
The shares of Electronic Arts (EA) recently received a $155 price target from BofA. And BofA analyst Omar Dessouky increased the price target from $148 while maintaining a “Buy” rating on the shares.
Dessouky adjusted the rating after the company reported first-quarter results that topped expectations on the top and bottom lines. And management called out the strength in FIFA, F1 materially exceeding expectations, and Apex Legends growing double-digits as the reasons why they beat expectations. Despite assuming a recession in the second half of next year, Dessouky sees a higher 2023 EPS with limited downside risk to the forecasts given that EA’s franchises are considered staples in the world of gaming.