MoffettNathanson downgrades Electronic Arts, recommends ‘more cautious stance’

As previously reported, MoffettNathanson downgraded Electronic Arts (EA) to Neutral from Buy with a $163 price target EA is “back to painting a picture of Swiss clock-like regularity in FC’s growth,” and perhaps they are right given that the team behind FC and Ultimate Team is “clearly one of the best in the business,” the analyst tells investors. In addition, enthusiasm for Battlefield, which the firm generally shares, has EA “once again brimming with confidence,” but with a share price “much closer to fair value,” the analyst added. After “a very healthy run-up in the stock” since January’s panic regarding EA Sports FC, the firm adds that it thinks “it’s time to take a more cautious stance.”