Looks like they're drinking the kool-aid now. Just five months
ago their PT was $47 (stock was $53), most recently it was $58, and
now they're jumping it ahead of the current price. So a PT raise
from $47 to $80 in 5 months, and has the company or its outlook
really changed that much in that time? Their eps est for the
upcoming year is $3.08, so $80 is 26 times that.
NFLX surging 3% also after announcing a 7:1 split, except they
already told the world a few weeks ago they were going to split the
stock so it isn't really news, but when you're partying like it's
1999 don't worry about that.
Greece deal is a non-starter too.
Jefferies comments:
"The team commented, "EA looks well positioned against two
multi-year tailwinds: faster than expected console sales and the
transition to higher-margin digital revenue. On top of this, EA's
multi-year game pipeline looks the best we've ever seen, starting
this holiday with Star Wars Battlefront. And the company will
return 50% of FCF to investors starting with a $1B, 2-yr buyback.
Based on earnings power, we think the stock has plenty more room to
run."
FY 2015 EPS was raised from $2.76 to $3.08."