Jefferies reaffirms its ‘buy’ rating on Electronic Arts while lowering its price target from $175 to $155, following a pre-announcement by the video game publisher of lower-than-expected bookings for the December quarter.
Electronic Arts also lowered its full-year figure by $575 million on the underperformance of FC25 and Dragon Age, with FC being the broker’s “most concerning”, now down in the mid-digit range. ‘.
“Spending fatigue around Ultimate Team and player churn are important issues that management should address on February 4, as are turnaround plans for fiscal 2026,” adds Jefferies.
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