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July 13, 2021, 8:57 a.m. EDT

EA stock gains after upgrade at BMO Capital Markets

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By Emily Bary

Shares of Electronic Arts Inc. /zigman2/quotes/206954087/composite EA +0.17% are up 1.1% in premarket trading Tuesday after BMO Capital Markets analyst Gerrick Johnson upgraded the stock to outperform from market perform and raised his price target to $168 from $150. Johnson expects that the video-game industry will fare better than expected exiting the pandemic, while lockdowns in some international markets could continue giving the company an engagement boost. He notes that EA's "Apex Legends" game seems to be performing "significantly better" than he had anticipated, with positive feedback for the new "Arenas" mode in season 9 that has helped the game increase its viewership on the Twitch platform. In addition, EA is "making significant progress in addressing its deficiency in the mobile space," Johnson wrote, pointing to recent acquisitions of Glu Mobile and Playdemic. Shares have declined 0.5% over the past three months as the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% has added 5.9%.

/zigman2/quotes/206954087/composite
US : U.S.: Nasdaq
$ 126.37
+0.22 +0.17%
Volume: 2.55M
Dec. 8, 2021 4:00p
P/E Ratio
46.55
Dividend Yield
0.54%
Market Cap
$35.68 billion
Rev. per Employee
$514,455
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/zigman2/quotes/210599714/realtime
US : S&P US
4,701.21
+14.46 +0.31%
Volume: 2.16B
Dec. 8, 2021 4:59p
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