Morgan Stanley upped EA to a whopping 24.7x March 2018 earnings and 27.8x March 2017. I had covered my last EA short when it went under $80, similar to how I was looking for ATVI under $40, and then I got back in short at $82.40. As is often the case, I under-estimated the bullishness around Fed speak. Sigh.

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Morgan Stanley started coverage at overweight with a PT of 56. Morgan Stanley also initiated rival Electronic Arts at overweight with a PT of 101.

"We are bullish on the digital gaming shift as gaming evolves from a 'units sold' business into an 'engagement monetization' business. We see digital in-game offerings leading to recurring and growing user bases, higher per-game engagement (time spent per user), and more monetization opportunities," said Brian Nowak, a Morgan Stanley analyst in a report.

investors.com/ne...-buys/