Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Anusuya Lahiri

MKM Partners Cuts Electronic Arts Price Target By 6%; Remains Bullish

Electronic Arts MKM Partners EA SPORTS Eric Handler Activision Blizzard Inc ATVI Electronic Arts Inc Microsoft Corp
  • MKM Partners analyst Eric Handler lowered the price target on Electronic Arts Inc (NASDAQ:EA) to $172 from $182 but reiterated a Buy rating on the shares. The price target implies an upside of 32%.
  • With a strong balance sheet and "significant scale," Electronic Arts should remain a leading consolidator, Handler notes. 
  • Still, following Microsoft Corp's (NASDAQ:MSFT) proposed acquisition of Activision Blizzard Inc (NASDAQ:ATVI) and the potential domino effect for an industry seeing platform and genre expansion, Electronic Arts could find itself a takeout candidate.
  • Handler adds that he remains "comfortable" with the expected 6% revenue growth forecast for Electronic Arts in FY23 thanks to the continued success of FIFA and Apex Legends, along with a full year's contribution from Golf Clash.
  • Price Action: EA shares traded lower by 3.76% at $130.11 on the last check Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Keira Knightley Revisits "Trauma" of Being Accused of Having an Eating Disorder
"I'll suddenly have a very bodily memory of it because, ultimately, it's public shaming."
Marie Claire
Marie Claire
Keira Knightley recalls ‘public shaming’ she felt amid claims she had an eating disorder
‘It’s obviously part of my psyche, given how young I was,’ she recalls about the eating disorder claims
The Independent UK
The Independent UK
The Simpsons: Hit & Run dev says they could've made 3 sequels without paying a penny for the license: "Some crazy person at the publisher - we never found out who - said no"
"We never imagined it would still be bringing some people happiness 20 years later!"
GamesRadar
GamesRadar
Wrestler, film star – and future president? Why we should all take Dwayne ‘The Rock’ Johnson seriously
The WWE icon, already one of Hollywood’s highest-paid film stars, has shown himself to be ‘focus group-proof’
The Guardian - UK
The Guardian - UK
Eating this fruit before bed can help you sleep better – but expert opinions are divided
TikTok strikes again with its avocado sleep hack – but does it actually work?
T3
T3
Cher was ‘shocked’ to discover her legal name after birth certificate mix-up
Pop icon had gone for years without knowing what was written on her birth certificate
The Independent UK
The Independent UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play