Electronic Arts: SunTrust Says Buy, But Needham Urges Caution – Barron’s
Shares of Electronic Arts (EA) are down $2.14, or almost 2%, at $115.68, amidst some diverging views today: SunTrust’s Matthew Thornton started the stock at a Buy, with a $133 target, writing that “annuity” revenue from sports games is a big draw, while Needham & Co.’s Laura Martin, although also bullish, warns that the stock tends to trade down from October to as late as the following February.
I his initiation, Thornton notes the company’s sports titles, such as the various “FIFA” soccer games, and the “Madden” NFL title,…
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