- Electronic Arts (NASDAQ:EA) is up 1.8% premarket as UBS upgrades shares to Buy.
- The analysts set a price target of $80, raised from $65. Shares closed yesterday at $68.01.
- UBS has raised fiscal year estimates for the game maker, putting its non-GAAP revenues at $4.63B (up from $4.48B) and EPS to $3.01 (from $2.84). Consensus estimates for revenues are at $4.49B and for EPS of $2.86.
- UBS also expects adjusted fiscal 2016 EBITDA of $1.5B, up from $1.43B and vs. a consensus of $1.38B.
- The firm says there's "continued runway for outperformance" considering factors including a continuing shift to digital sales and a title slate that will get a boost from Star Wars: Battlefront.