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UPDATE: Bank Of America Lowers Price Target On King Digital

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In a note released Wednesday morning, Bank of America cut its price objective for King Digital Entertainment (NYSE: KING) from $22 to $19.

The reduction comes on the back of the company's disappointing third quarter bookings guidance of $512 million vs. Bank of America estimate of $620.

The firm noted, "We think the stock could re-gain form of the aftermarket move (down 20 percent) given a high short interest into results and valuation support, but 2015 estimate uncertainty is likely to remain an overhang for new buyers."

Latest Ratings for KING

DateFirmActionFromTo
Nov 2015Morgan StanleyDowngradesOverweightEqual-weight
Nov 2015Cowen & Co.DowngradesOutperformMarket Perform
Nov 2015WedbushDowngradesOutperformNeutral

View More Analyst Ratings for KING
View the Latest Analyst Ratings

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

 

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