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UPDATE: BMO Capital Markets Reiterates Market Perform Rating, Lowers PT on Zynga

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In a report published Friday, BMO Capital Markets reiterated its Market Perform rating on Zynga (NASDAQ: ZNGA), but lowered its price target from $5.00 to $3.00.

BMO Capital Markets noted, “The company experienced a weaker-than-expected performance in its “invest and express” web-based games – essentially its Ville games. Zynga also lowered its expectations for the balance of the year to reflect a weaker-than-expected performance from The Ville as well as delays in the launch of new titles. We are lowering our estimates for 2012 and 2013 to reflect the current challenges. We are also reducing our 12-month price target.”

Zynga closed on Thursday at $2.82.

Latest Ratings for ZNGA

DateFirmActionFromTo
Jul 2015Morgan StanleyInitiates Coverage onEqual-weight
May 2015NeedhamInitiates Coverage onBuy
May 2015JefferiesMaintainsBuy

View More Analyst Ratings for ZNGA
View the Latest Analyst Ratings

Posted-In: BMO Capital MarketsAnalyst Color Price Target Analyst Ratings

 

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