Electronic Arts price target raised to $162 from $155 at Wedbush

Wedbush raised the firm’s price target on Electronic Arts to $162 from $155 and keeps an Outperform rating on the shares. The firm notes EA reported significant earnings upside on sports game strength and conservatism and passed through that upside to its full year outlook. Future annual release schedules are likely to be much stronger than this year’s, with incremental revenues from larger new releases during the next few years adding to Wedbush’s expectation of flattish performance from the company’s typical annual release slate.