Scalper1 News
Electronic Arts (EA) saw its stock hit a record high on Tuesday after receiving a price target bump from investment bank UBS. EA stock closed at 69.89, up 2.8%, and earlier rose as high as 69.95. UBS analyst Eric Sheridan said EA stock still has room to run despite rising 45% this year through Monday. He upgraded his rating on EA stock to buy from neutral and raised his 12-month price target to 80 from 65. “Over the past several quarters, EA’s management has delivered a series of upside surprises on both top and bottom lines driven by strong title performance, higher gross margins from digital sales (led by growth in extra content, free-to-play and mobile gaming), and cost efficiencies,” Sheridan said in a research report Tuesday. “Despite the rise in EA shares during this time, we see continued runway for outperformance.” Sheridan pointed to EA’s upcoming video game slate,… Scalper1 News
Scalper1 News