Electronic Arts remains top pick in video games at Deutsche Bank

Deutsche Bank analyst Benjamin Soff lowered the firm’s price target on Electronic Arts to $157 from $160 and keeps a Buy rating on the shares post the fiscal Q2 results. EA remains the analyst’s top pick in video games this year. The company has strong underlying growth for its core franchises, a "fairly robust" release slate for the balance of fiscal 2023 and an "underappreciated multiyear development pipeline," Soff tells investors in a research note. He says the shares are trading at an attractive valuation, near the low end of its recent historical range.