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Electronic Arts: shares fall as Jefferies cuts rating

(CercleFinance.com) - Electronic Arts shares fell on Thursday after Jefferies downgraded the video games maker, saying the company's 2019 game lineup relies on "unproven games.
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Jefferies believes growth in FIFA 19 Ultimate Team has plateaued and that margins will compress year-on-year as the football game growth decelerates, it said, downgrading the stock from "buy" to "hold".

The broker cut its full-year earnings estimates for the company for 2020 and 2021 by 7% and 13%, respectively. Jefferies also reduced its target price on the stock from 139 dollars to 95 dollars.

Its shares were down 1.4% at 88.6 dollars on the Nasdaq this morning.

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