UBS downgraded Electronic Arts to Neutral from Buy with a price target of $142, up from $140. While UBS continues to believe EA is well-positioned in the current environment given proven franchises and a solid pipeline and thinks EA stands to benefit from ongoing market consolidation, UBS sees a trough on near-term comps from the FC24 franchise and says elevated competition from anticipated launches at peers adds execution risk, the analyst tells investors in a research note. The firm sees a balanced risk/reward.
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Read More on EA:
- Electronic Arts price target raised to $146 from $140 at Baird
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