Electronic Arts price target raised to $140 from $130 at Morgan Stanley

Morgan Stanley analyst Matthew Cost raised the firm’s price target on Electronic Arts to $140 from $130 and keeps an Equal Weight rating on the shares following what the firm calls a “solid” fiscal Q3 report. Continued strength in FC and Madden offset weakness in Apex, which the firm says “remains both a headwind and significant opportunity.” Morgan Stanley views the outlook as balanced until investors can gain greater confidence in the timing and magnitude of the new game pipeline, the analyst added.