When you consider Titanfall 2’s pedigree, “underdog” seems as innacurate of a description as anything. Published by Electronic Arts, developer Respawn Entertainment’s follow-up to its wall-running, mech-dropping 2014 FPS definitely has the sort of financial security for which few developers can hope when building a young franchise.

Still, thanks to Titanfall 2 releasing curiously between heavy-hitters Call of Duty: Infinite Warfare and EA’s own Battlefield 1, financial firm Cowen & Co. predicts Respawn’s contribution to the holiday FPS releases could be passed over by consumers.

“We are downgrading EA shares … because we believe that ‘Titanfall 2’ sales are going to be substantially disappointing, enough to offset upside from ‘Battlefield 1,'” Cowen & Co. analyst Doug Creutz wrote, as reported by CNBC. The firm also dropped projected sales from 9-million units to 6-million.

Creutz also theorized that EA releasing two shooters in the holiday season was intended to divert sales from Infinite Warfare. Instead, Creutz wrote,”EA appears to have wound up shooting its own foot off.”

Based on existing market information, Creutz and his firm’s projections make some sense. However, thanks to an emerging narrative, Titanfall 2’s outlook may not be so bleak.

While the original Titanfall had an overall positive reception, players were disappointed with the absence of a single player campaign. Titanfall 2 has corrected that by offering a “total package” FPS, as outlets like Game Informer have written in their reviews.

Not only does the sequel’s multiplayer suite surpass its predecessor’s, Titanfall 2 also boasts a critically acclaimed single player campaign. Critics and fans alike are praising aspiring pilot Jack Cooper and titan BT-7274’s almost buddy cop-like escapades across an alien planet, as they fight off indigenous creatures and goons from the Interstellar Manufacturing Corporation.

Titanfall 2’s adoration is only going to shine a brighter light on Cowen & Co.’s predictions, especially as major media outlets like Game Informer, Forbes and GameSpot report on them.

Forbes contributor Paul Tassi even went as far to say that despite the “substantially disappointing” performance expected by Cowen & Co., Titanfall 2 deserves to be a massive hit, effectively broadcasting an underdog narrative that could mobilize gamers into an active effort to improve the game’s sales.

Of course, even if Titanfall 2’s sales do lean more toward 6-million than 9-million, that doesn’t necessarily make the game a failure. For one, 6-million is hardly a number to balk at. It’s still enough to land within most years’ top ten in global sales. More importantly, EA could very well recognize the mistake in their publishing schedule, and not hold it against the developer or its fledgling IP.

On the other hand, triple-A publishers have soured on new IPs for failing to meet unfair sales expectations before, so EA taking their mistake out on Titanfall wouldn’t be unprecedented.

Despite the mild doomsaying from Cowen & Co. and concern from fans, Respawn Producer Drew McCoy was unphased in an Oct. 27 PlayStation Life interview.

“At the end of the day, we’re releasing a game that we’re happy with,” McCoy said. “As long as we’re doing that, I think we’re gonna find an audience. It doesn’t really matter when it comes out. A good game gets noticed.”

Battlefield 1 and Titanfall 2 are out now, while Call of Duty: Infinite Warfare releases Nov. 4. Considering all the positive press the game has received so far, Titanfall 2 is hardly dead in the water. It remains to be seen, however, whether Cowen & Co.’s predictions will come true.

Nicholas LeVack is a freelance writer whose work has appeared here. You can follow him on Twitter or, y’know, this blog, ’cause it’s his blog and where most his stuff will appear.