Benchmark Remain Enthusiastic about Electronic Arts (EA); PT Trimmed

Benchmark Maintained their Buy rating for Electronic Arts Inc (NASDAQ: EA) but lowered the target price to $59.87 after adjusting their ESP estimate to $2.71 per share (from $2.92). Benchmark believes that the key drivers for the fiscal year are going to be: catalog sales, Battlefield and continued strength from digital sales.

Benchmark analyst Mike Hickey goes on to describe the key themes driving their enthusiasm to include, "a compelling near term growth profile, a narrow product slate, current-gen console growth, digital market / product / service elevated growth continuation, strong cash generation and operating leverage through effective cost controls; offset somewhat by negative FX headwinds that have challenged our original growth assumption for fiscal ’16 and the Company’s recent valuation acceleration that now suggests the Company has essentially achieved fair value."

For an analyst ratings summary and ratings history on Electronic Arts click here. For more ratings news on Electronic Arts click here.

Shares of Electronic Arts closed at $59.31 yesterday.

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