Electronic Arts price target raised to $185 from $170 at Oppenheimer

Oppenheimer analyst Martin Yang raised the firm’s price target on Electronic Arts (EA) to $185 from $170 and keeps an Outperform rating on the shares. The firm notes the stock has outperformed S&P by 11% year-to-date, and it believes it will continue to outperform in 2025, based on new momentum. Oppenheimer sees investors’ focus shifting from “safe haven in uncertain macro” to “bookings growth acceleration with excellent operating leverage” in the next 12 months. While EA’s FY26 guidance delivers decent positive surprises on operating leverage and EPS, the firm sees further upside currently unaccounted for in guidance, including better Battlefield units sales, pricing increase for base Battlefield from $70 to $80, incremental contribution from Premium Season Pass to FC, and meaningful live service bookings contributions from Skate and Battlefield.