Electronic Arts downgraded to Neutral from Buy at Citi

Citi analyst Jason Bazinet downgraded Electronic Arts to Neutral from Buy with a price target of $161, up from $148. Since the fiscal Q2 results, EA‘s shares have risen 15% on optimism around the upcoming release of College Football, the analyst tells investors in a research note. While bullish on the release, Citi has three concerns: potential weakness at Apex Legends, potential crowding out from GTA IV’s release in Q4 of 2025, and macro risk if consumer spending moderates. As such, the firm sees limited upside in shares of Electronic Arts.