UPDATE: Morgan Stanley Raises Zynga's PT

According to a research report released today, Morgan Stanley has increased Zynga Inc.'s (NASDAQ: ZNGA) to $15.

Morgan Stanley commented in the report, “Zynga posted $307MM in bookings (+26% Y/Y), which beat our / the street's estimates of $281MM / $302MM. Results were solid overall while Zynga guided to expanded growth in 2H:12E as expected. We raise our PT to $15 and would be buyers of weakness in the stock, as we believe in the story.”

Morgan Stanley maintains its Overweight rating on Zynga, which closed yesterday at $14.35.