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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
Aug 2015JP MorganDowngradesOverweightNeutral
Aug 2015BarclaysMaintainsEqual-weight
Jul 2015Morgan StanleyInitiates Coverage onOverweight

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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