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Electronic Arts up 1.8% premarket on UBS upgrade to Buy

Jul. 07, 2015 9:16 AM ETElectronic Arts Inc. (EA) StockEABy: Jason Aycock, SA News Editor
  • 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.

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