- 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.