Shares of Electronic Arts (EA) - Get Report were gaining by 2.57% to $116.61 on Wednesday afternoon, after Bank of America/Merrill Lynch raised its rating on the videogame maker to "buy" from "neutral."
Bank of America/Merrill Lynch has set a price target of $131 on the stock, above its previous $125 price target.
The rating change comes as the firm is optimistic that EA's full year 2018 upside can expand further. The firm sees a multiple that is in line with rival Activision Blizzard (ATVI) - Get Report and could result in greater EPS upside.
Electronic Arts reports its first quarter earnings results after the market closes on Thursday.
More of What's Trending on TheStreet:
- Advanced Micro Devices Could Explode Another 17% Within Hours: Chart
- Apple Moving Closer to Selling an American Made $1,000 iPhone, Trump Hints
- We Found 9 Products on Amazon With Inflated Discount Rates
- How Birchbox Took on Macy's, J.C. Penney and the $500 Billion Beauty Counter
