UPDATE: Sterne Agee Upgrades Zynga

According to a research report published this morning, Sterne Agee has upgraded Zynga

from Underperform to Neutral. Sterne Agee said in the report, "We are upgrading ZNGA shares based on valuation. However, our fundamental concerns are unchanged and revolve around: 1) a slowing social gaming market; 2) continued pressure on ZNGA's active user base; 3) lock-up expiration of 325 million shares earlier this week; 4) lack of visibility on the company's product pipeline; and 5) risk to 2013 estimates." Zynga is currently trading at $6.14.