Oppenheimer raised the firm’s price target on Electronic Arts (EA) to $170 from $140 and keeps an Outperform rating on the shares. The firm expects the newly announced Premium Pass in EA Sports FC to provide incremental, multi-year bookings growth tailwind previously unexpected by investors. Premium Pass, or commonly known as battle pass, is a cornerstone monetization feature in most AAA live services games. Oppenheimer estimates that EA Sports FC Premium Pass could generate mid-to-high-single-digits incremental bookings growth once fully implemented.
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