Phil Elliott
09:38 (BST)
31/01/2008
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EA stock rises following analyst upgrade
Bear Stearns confident in publisher's performance, stock rises 3.6 per cent
Following a confident appraisal of Electronic Arts' performance by Bear Stearns, which raised its guidance rating from "peer perform" to "outperform", the company's share price rose 3.64 per cent, closing yesterday at USD 47.23.
However, that contrasts with its price on December 26 last year of USD 60.02, an overall loss of just under 25 per cent of the company's value across the month of January.
But the analyst doesn't believe that the stock price represents the company's true value in this case, justifying the upgrade, reports Forbes.
EA is due to report its third quarter financials today, with revenues expected in the region of USD 1.7 billion for the three months to the end of December.
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