Electronic Arts (EA) appears on track to close its pending deal, while live services growth, stronger margins, and steady franchises such as FC, Madden, and Apex Legends should support future results, Wedbush said in a note Wednesday.

The investment firm lowered its fiscal 2027 and fiscal 2028 forecasts because it now expects a more cautious live services contribution, mainly from the Battlefield 6 player base, while reducing its fiscal 2027 net bookings estimate to $8.07 billion from $8.35 billion, with EPS of $8.73 from $9.41.

For FY28, Wedbush lowered its net bookings forecast to $8.29 billion from $8.55 billion and cut its EPS estimate to $9.27 from $9.90, but added that it still expects operating margins to improve in fiscal 2027, helped by lower launch-related spending and better leverage in research, development, sales, and marketing.

Live services could grow about 9% in fiscal 2027 and make up around 76% of total bookings, supported by Apex Legends, Global Football, and other ongoing franchises.

Wedbush kept its neutral rating and $210 price target on Electronic Arts, saying the target reflects the announced deal price.

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