Jefferies Raises Electronic Arts Price Target, 'Star Wars' Key Title For Fiscal 2016

Brian Pitz of Jefferies on Wednesday commented that Electronic Arts Inc. (NYSE: EA) reported “solid” fourth quarter results on Tuesday, but remains cautious on the March release of "Battlefield Hardline."

Electronic Arts management sounded bullish on March's release of "Battlefield Hardline" but Pitz remains unsure if core "Battlefield" gamers will “warm up” to the cops-and-robbers gameplay that differs from the traditional military-themed play. The analyst also notes that the traditional holiday release window is more preferred over a spring release as gamers may be “distracted” by warm weather and not purchase as much add-ons.

However, Pitz is bullish on "Star Wars Battlefront" which is the “key title” for the company in fiscal 2016. The analyst states that the game should benefit from cross-promotion with the motion picture due to be released in December.

Shares remain Hold rated with a price target raised to $47 from a previous $38.

Shares of Electronic Arts traded recently at $53.64, up 10.8 percent.