Market Overview

UPDATE: Bank Of America Lowers Price Target On King Digital

Share:
Related
King Digital: RBC Capital, Deutsche Bank, Wedbush React To Share Price Decline
Tiger Global Is Into Consumer Discretionary, Tech Segments In Latest 13F
Surprise! SPYR is Good at Things Besides Mobile Games. (ZNGA, SPYR, KING) (Small Cap Network)

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
May 2015Stifel NicolausMaintainsBuy
Mar 2015JP MorganUpgradesNeutralOverweight
Feb 2015Deutsche BankMaintainsHold

View More Analyst Ratings for KING
View the Latest Analyst Ratings

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

 

Related Articles (KING)

Around the Web, We're Loving...

Get Benzinga's Newsletters