Shares of Electronic Arts Inc (NASDAQ: EA) were up 2.96% on Tuesday, currently trading at $128.37.
The Electronic Arts Analyst: Omar Dessouky, from BofA Securities, upgraded EA to Buy as "the balance of risk appears more favorable."
Moreover, Dessouky raised the price target from $145 to $150, implying about a 20% upside potential. The new valuation is based on a forward price-to-earnings (P/E) ratio of 19x FY25 earnings.
See Also: Electronic Arts To Rally Over 20%? Here Are 10 Other Analyst Forecasts For Tuesday
The raised price target reflects confidence that EA's strength in the EA SPORTS FC franchise will ...