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Investors are way too worried about the impact a rebranding of Electronic Arts ' FIFA video games could have on the stock, according to Bank of America. The bank upgraded the video game maker's stock to buy from neutral and raised its price target to $150 from $145. A decadeslong partnership between FIFA — soccer's governing body — and Electronic Arts came to an end last year, when the company announced its longtime video game franchise would be rebranded to EA Sports FC. Additionally, Dessouky said that the company's new game video game could provide upside to consensus estimates and guidance in the near term and beyond, especially following above-trend growth in the PC and console gaming market. "We expect the PC/Console software market to grow above trend (mid/high single digits) in CY24 and beyond," the analyst wrote.
Persons: Omar Dessouky, Dessouky, Michael Bloom Organizations: Electronic Arts, FIFA, Bank of America, FIFA —, EA Sports FC, EA, SPORTS FC Locations: Monday's, CY24
But as it hosts the soccer World Cup, controversy is also descending on the tiny Gulf kingdom. “The tournament has been labeled as the first ‘fully carbon neutral FIFA World Cup tournament,’ meaning its overall impact on the planet should be zero,” the letter said. People gather around the official countdown clock showing remaining time until the kick-off of the World Cup on Nov. 11. After winning the right to host the tournament, Qatar pledged to become the first carbon neutral World Cup host. “Events like the World Cup, like the football World Cup or like the Olympics bring joy and happiness to millions of people, sometimes even billions of people, right?” he said.
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