Market Overview

UPDATE: Bank of America Raises PO to $3.90 on Zynga on Eventual Real-Money Gaming Revenue

Related ZNGA
Short Interest Swings In Social Media Stocks
Zynga Launches New Words With Friends To Global Audiences: One of the World's Favorite Word Games Becomes Sleeker, Smarter, And More Social
Developer Takes on Angry Birds in a 'Serious' Way (Fox Business)

Bank of America maintained Zynga (NASDAQ: ZNGA) with a Buy rating and raised the price target from $3.60 to $3.90.

Bank of America commented, "While U.S. real-money gaming revenues are likely still 18+ months away, the opportunity is getting increased visibility in 2013 with recent legalization in Nevada and New Jersey, and ZNGA is positioned to capitalize given: 1) its large WW online poker audience with 35mn monthly users (current AppData estimate), 2) its new COO who has online gambling experience, 3) its partnership with bwin.party to launch a gambling site in the UK (1H13)."

Zynga closed at $3.52 on Wednesday.

Latest Ratings for ZNGA

DateFirmActionFromTo
Aug 2014JefferiesMaintainsHold
Aug 2014Credit SuisseMaintainsUnderperform
Aug 2014MacquarieMaintainsNeutral

View More Analyst Ratings for ZNGA
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

Related Articles (ZNGA)

Around the Web, We're Loving...

Get Benzinga's Newsletters