Video game publisher Electronic Arts (EA) has seen its shares rise on hopes for a strong holiday sales season. EA stock reached a buy point on Thursday.
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On the stock market today, EA stock rose 1.1% to 143.60. In intraday trading, it climbed as high as 143.86.
In afternoon trading, EA stock passed a buy point of 143.54 from a cup-with-handle base. However, trading volume ahead of the New Year’s holiday weekend was about half the stock’s average.
Last week, Morgan Stanley analyst Brian Nowak raised his price target on EA stock to 150 from 140. But he kept his equal-weight, or neutral, rating on Electronic Arts.
Like other video game companies, EA has benefited from the stay-at-home entertainment trend spurred by the Covid-19 pandemic.
“Our work shows 2020 likely pulled forward about 4 years of video game user growth as player bases, time spent, payer bases, and in-game…
