Shares of Electronic Arts (EA) 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) and could result in greater EPS upside.
Electronic Arts reports its first quarter earnings results after the market closes on Thursday.
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