EA - Truist stays bullish on videogames but cuts Roblox to Hold in late-quarter update

A late-quarter look at interactive/videogame names from Truist Securities finds the firm still bullish on the group, even though some outperformance since last earnings has brought the names closer to historical average vs. the S&P 500. Overall the group of Electronic Arts (EA), Take-Two Interactive Software (NASDAQ:TTWO), Roblox (NYSE:RBLX) and SciPlay (SCPL) has outperformed major market stocks by 21-30 points since mid-May, analyst Matthew Thornton noted. In May, Twitch viewer growth and mobile in-app purchases decelerated more, while Steam viewer growth was stable. As for macro worries, Thornton said "We continue to expect the Interactive end-market to be relatively resilient in a recession (small-ticket consumer as opposed to big-ticket consumer or brand advertising), though not immune." He's got Buy ratings on most of the names, but Truist has downgraded Roblox (RBLX) to Hold, saying it screens least favorably of the group - citing revision trends (especially adjusted EBITDA where the

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Truist stays bullish on videogames, but cuts Roblox to Hold in late-quarter update