Pachter slashes price target on EA following Q2 financials

By Patrick Garratt
31 October 2008 12:07 GMT

ealogo4.jpg

Wedbush Morgan’s Michael Pachter has heavily dropped his 12-month price target on EA, heading south from $53.50 to $38.

The analyst is maintaining a “strong buy” rating on the firm.

Pachter also pulled back his EPS estimate for EA, down from $1.70 to $1.40.

The moves come following the announcement of both increased losses and sales in the second quarter from EA yesterday, and confirmation that the publisher is to shed 6 percent of its workforce.

Sometimes we include links to online retail stores. If you click on one and make a purchase we may receive a small commission. Read our policy.

VG247 logo

Buy our t-shirts, yeah

They're far more stylish than your average video game website tat.

VG247 merch