Benchmark raised the firm’s price target on Electronic Arts to $163 from $153 and keeps a Buy rating on the shares after the company delivered better-than-expected Q1 results, initiated better-than-expected Q2 guidance and reiterated FY25 guidance. The firm is “optimistic” about the growth potential of the EA SPORTS franchise portfolio, which will be a key driver in Q2 and is anticipated to surpass expectations, says the analyst, who adds that EA typically exceeds Q1 guidance without raising fiscal year projections.
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