UPDATE: Hilliard Lyons Reiterates Electronic Arts at Neutral Following CEO Departure

Hilliard Lyons maintained Electronic Arts (NASDAQ: EA) with a Neutral rating.

Hilliard Lyons analyst Jeffrey S. Thomison commented, "After the market close on 3/18/13, John Riccitiello announced his resignation as EA's Chief Executive Officer and Board member effective 3/30/13. … While we believe a leadership change at EA is a net positive, we believe the successor choice will play a major factor in our future stock rating. Given the immediate uncertainty, as well as a lowered earnings outlook likely due to sluggish sales, we maintain our Neutral rating at this time."

Electronic Arts closed at $17.15 on Tuesday.