Analysts Cut Price Targets for Electronic Arts after Game Delay

In the previous part of this series, we saw that Electronic Arts (EA) delayed the release of Battlefield V. Wall Street analysts were not impressed, resulting in several price target cuts for the stock. Bank of America Merrill Lynch (BAC) downgraded the stock from “neutral” to “buy.” While Cowen reiterated a “market perform” rating for EA, it cut its 12-month price target from $114 to $111. While EA stock has been impacted recently, analysts are still optimistic about its long-term drivers.