Electronic Arts (EA) Stock Price: $147 Target From MoffettNathanson

By Amit Chowdhry ● Jun 16, 2022
  • The shares of Electronic Arts (NYSE: EA) have received a $147 price target from MoffettNathanson. These are the details.

The shares of Electronic Arts (NYSE: EA) have received a $147 price target from MoffettNathanson. And MoffettNathanson analyst Clay Griffin adjusted the rating from a “Neutral” rating to a “Buy” rating while increasing the price target from $141.

Griffin noted that this downgrade comes just 4 weeks after raising the recommendation on the stock to a Buy rating. At the time, Griffin upgraded EA with a Buy rating with a thesis that the company’s relative stability, clean balance sheet, ample free cash flow generation, and meaningful discount to its historical valuation multiple ranges offered a great set-up for investors looking for a safe haven.

Griffin adjusted the rating after the company’s shared more than 20% recently and substantially outperformed the market between early May and early June.

“We can’t help but feel like the proverbial dog that unexpectedly caught the car it was chasing,” wrote Griffin. And going forward, Griffin remains positive on the fundamentals but sees the rich valuation as a major reason to move back to the sidelines.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.