Electronic Arts (EA) delivered Q2 results below expectations, but its Battlefield game had a strong performance and its live services bookings look to grow in the coming years, Wedbush said in a Wednesday note.

Battlefield sold 7 million units in its first three days, significantly surpassing Wedbush analysts' expectations of 7 million to 15 million unit sales for the year. The analysts said they updated their estimates to 15 million to 20 million for the year.

The analysts also updated their live services expectations with the performance of a number of titles such as Apex Legends, FC 26 and Madden 26, as well as the "exceptional" launch of the skate game, with 15 million players as of Oct. 6.

Wedbush boosted its EPS estimates for the company to $8.49 from $8.04 for fiscal 2026, to $9.41 from $8.81 for fiscal 2027, and to $9.90 from $9.30 for fiscal 2028.

All eyes remain on the pending transaction with investor consortium that includes Saudi Arabia's Public Investment Fund, the analysts said. They do not expect a bidding war, given the "lack of realistic suitors" to challenge the fund. The analysts added that they expect the transaction to push through with few regulatory hurdles.

Wedbush maintained the company's stock rating at neutral with a price target at $210.

Price: 200.36, Change: +0.06, Percent Change: +0.03