In a report released Monday, Piper Jaffray analyst Michael Olson upgraded King Digital Entertainment KING to Overweight, while increasing its price target from $19 to $28 per share.
Olson believes King's second quarter results holds the potential to exceed the firms expectations, predicting results should come in-line with consensus expectations.
Piper Jaffray favors King's recent ranking performance with more of its games being placed in the top 20 iOS highest-grossing list during the company's second quarter. Olson believes King will have strong performance with the anticipated releases of the second Bubble Witch Saga and Candy Crush Soda.
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