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EA stock jumps after analyst upgrade

EA (ERTS) shares rose 4 percent this morning after Bear Stearns analyst Ed Urban upgraded the stock from "peer perform" to "out perform", following a 26 point slide since December 26.

“Shares have returned to levels seen at the beginning of the cycle, despite more certainty around cycle growth prospects,” Urban said.

Urban has a $60 target on EA, which stood today at $47.38 after the rise.

“While a protracted consumer slowdown would be expected to have some impact on the publishers, we believe ERTS’ revenue growth expectations - +17% y/y -are reasonable given the recent industry updates from hardware manufacturers and publishers,” Urban added.

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Patrick Garratt avatar

Patrick Garratt

Founder & Publisher (Former)

Patrick Garratt is a games media legend - and not just by reputation. He was named as such in the UK's 'Games Media Awards', the equivalent of a lifetime achievement award. After garnering experience on countless gaming magazines, he joined Eurogamer and later split from that brand to create VG247, putting the site on the map with fast, 24-hour a day coverage, and assembling the site's earliest editorial teams. He retired from VG247, and the games industry, in 2017.

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