NEW YORK (TheStreet) -- Shares of Electronic Arts (EA - Get Report) closed up on Friday as Oppenheimer increased its price target on the stock to $94 from $88.

The firm also reiterated its "outperform" rating on shares of the Redwood City, CA-based video game developer.

"We are encouraged by initial positive reviews of major titles for this year ("FIFA 2017," "Battlefield 1" and "Madden 2017"). Across the franchises, EA has delivered welcome tweaks that appeal to both the new and old fan base," Oppenheimer wrote in an analyst note earlier today.

In addition to solid year-over-year improvements in accessibility, quality and game play, the firm finds the favorable impression of "FIFA 2017's" migration to the Frostbite game engine a "major" milestone for EA.

"We expect the shared game engine (adoption to more titles expected) to deliver better graphics to more franchises and drive further cost savings in the near future," Oppenheimer added.

Initial reviews of the company's core titles this calendar year give the firm confidence that EA will deliver what it promised: leaner development cost through a shared game engine and a focus on game quality and portfolio strength.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of A on the stock.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins.

The team believes its strengths outweigh the fact that the company has had sub par growth in net income.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: EA