Electronic Arts (EA) stock soared 5.12% in the pre-market on Friday, as analysts at MoffettNathanson upgraded the gaming company to a "buy" rating, citing a compelling entry point after recent selloff.
The brokerage firm believes that EA's core strength and franchise visibility remain intact, despite concerns over the company's latest FIFA game, now rebranded as EA Sports FC. MoffettNathanson expects a rebound if EA executes well on its pipeline.
According to the analysts, the drawdown in EA's stock price is overdone, and the introduction of a new 5v5 game mode, while potentially diverting attention from Ultimate Team, can be mitigated and even turned into a broader monetization opportunity. They argue that the company's crown jewel remains strong, and the recent selloff presents a buying opportunity.
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