Deutsche Bank Has Sell Rating On Electronic Arts (ERTS)

Deutsche Bank has a Sell rating and a $15 price target on shares of Electronic Arts ERTS following earnings. In a note to investors, Deutsche Bank writes, "We reiterate our Sell rating on Electronic Arts. In our opinion, EA has shipped plenty of products into the retail channel (oftentimes sell-in > sell-through) only to eventually take pricing action in the channel. Our analysis suggests that June quarter losses (highest ever in history) speaks to channel price protection from the December quarter, while March quarter pricing action may be ahead in the September quarter. With little visibility into title success/failure and massive F3Q profit ramp, we would be sellers of the stock." Shares of ERTS lost 24 cents yesterday to close at $19.92, a loss of 1.2%.