Electronic Arts (ERTS) shares are trading off on weak early reviews for Medal of Honor, a much-anticipated new military game which went on sale today.
Cowen & Co. analyst Doug Creutz points out in a research note that reviews so far are “somewhat disappointing.”
IGN.com ran a review this morning called “Not So Special Operations,” which tells you most of what you need to know. “With serious stability and performance issues on console, level design that tends more toward turkey shoot than firefight, and a story and characters that stumble in their attempts at relevance and pathos, Medal of Honor walks into a quagmire it never really escapes from, the IGN reviewer writes.
Game Informer rates the stock a 7 out of 10. “EA took a chance with the latest installment of Medal of Honor, moving the series from its World War II origins to a contemporary setting,” the Game Informer review says. “It�s no secret that the franchise has lost its way over the years, and it has the declining review scores to show for it. Those who pinned their hopes on the change in venue fixing the problems are likely to be disappointed by the results.”
Eurogamer gives the game an 8 of 10. “As a game about the Afghanistan war that does its absolute utmost to avoid being about the Afghanistan war, Medal of Honor is arguably just a shooting gallery spliced with a fairground ride and a solid multiplayer accessory which owes a lot to Bad Company 2. It certainly does little to advance the theory that video games are responsible enough to tell stories within sensitive contexts – it’s compelling and enjoyable to play on a visceral level, but it’s a shame it lacks the creative bravery to match the courage of the heroes it so reveres.”
Creutz says that with the game positioned as a challenger to Activision‘s (ATVI) Call of Duty franchise in the first-person shooter genre, he was hoping for scores in the 85-90% approval range. “Failing to achieve this target would be a bit of a black eye for EA management given the amount of focus and hype they have placed on the game,” he writes. “We believe the mixed reviews could impact the title’s legs as it will likely be competitively disadvantaged once Activision releases Call of Duty: Black Ops.”
Creutz noted that given a recent rally in ERTS, the middling reviews leaves the stock vulnerable. He keeps his Neutral rating on the shares.
ERTS is down 94 cents, or 5.3%, to $16.72.
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