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Electronic Arts gains from console demand

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CIOL Bureau
New Update

NEW YORK: Recent launches of new video game consoles from Sony, Microsoft and Nintendo are benefiting game maker Electronic Arts Inc., which is aiming to garner 20 per cent of total game sales, according to Barron's.

In its Feb. 19 edition, the newspaper said analysts forecast Electronic Arts earnings for the fiscal year ending March 2009 could be triple that of the current fiscal year.

Analyst Michael Pachter of Wedbush Morgan Securities sees shares climbing to $65 within 12 months. Shares closed at $50.01, down 10 cents, on Nasdaq on Friday.

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