Shares of Electronic Arts Inc. are up 2.8% in Monday trading after Stifel analyst Drew Crum reiterated his upbeat view of the company’s prospects and dismissed concerns that the popular “Fortnite” game, made by privately held Epic Games, posed a material threat to EA. “‘Fortnite’ is VERY popular right now, but the sky isn’t falling for EA,” Crum wrote. “We’re not dismissing Fortnite, but also think the absence of any major releases (since November) has probably had some affect on its success.” Crum said that his recent meetings with management indicated that the company is “happy” with engagement levels for its major franchises. The company singled out “Battlefield 1” and FIFA Ultimate Team, according to Crum, who thinks the title will benefit from the World Cup this summer. EA shares are up 40% over the past year, while Activision Blizzard Inc. shares are up 41% and Take-Two Interactive Software Inc. are up 76%. The S&P 500 has gained 12% in that time.
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