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'Apex' engagement driving EA upside - Piper

Jul. 12, 2019 8:51 AM ETElectronic Arts Inc. (EA) StockEABy: Brandy Betz, SA News Editor
  • Piper Jaffray analyst Michael Olson says EA's (NASDAQ:EA) new season of Apex Legends has largely in-line player engagement numbers.
  • Olson is now more confident in EA's ability to hit its $300-400M guidance range for Apex in FY20.
  • The analyst calls EA's overall FY20 outlook as "somewhat conservative, with limited downside risk." He sees potential FY20 upside from Apex Legends, FIFA Ultimate Team and Star Wars Jedi: Fallen Order.
  • Piper maintains an Overweight rating and $115 price target. EA has an Outperform average Sell Side rating.
  • EA shares are up 0.4% pre-market to $93.85.

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