Star Wars: The Old Republic Concerns Push EA Stock Price Down
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Shares of Electronic Arts Inc. fell nearly 3% to $17.75 on Thursday morning after an analyst with Brean Murray Carret & Co. cut his price target on the stock to $22 from $28, citing concerns about the recently released online multi-player game "Star Wars: The Old Republic." In a note to clients, analyst Todd Mitchell wrote that "creeping concerns" about the performance of "Star Wars" -- which was released in late December -- is causing him to trim his earnings estimates for the 2013 fiscal year. "Specifically, initial sales appear to be below expectations, and casual observation of early play is causing us to rethink our churn assumptions," Mitchell wrote.I guess it call comes down to whether or not you believe the analysts. Thanks, Massively.
