Freedom Capital analyst Nick McKay downgraded Electronic Arts (EA) to Hold from Buy with a price target of $195, up from $185, after the Wall Street Journal reported the company is in advanced talks to go private for around $50B, reflecting a 17% premium to the market capitalization based upon Thursday’s closing price. The firm cites valuation for the downgrade given the stock’s proximity to the new price target
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EA:
- Hold Rating on Electronic Arts Amidst Buyout Speculation and Valuation Uncertainty
- Electronic Arts Stock (EA) Soars on Reports of Potential $50 Billion Private Buyout
- Electronic Arts trading resumes
- Electronic Arts near deal to be taken private for $50B, WSJ reports
- Electronic Arts trading resumes, shares jump 15% to $192.89