Wedbush Initiates Zynga Coverage: Outperform, $12.50 PT

Wedbush initiated Zynga ZNGA coverage with an Outperform rating and $12.50 price target in a research report published today. In the report, Wedbush states, "We believe Zynga is well-positioned for revenue growth due to its dominant market share among social game publishers, its track record of releasing very popular and durable games of the highest quality, and its myriad opportunities to expand beyond Facebook with its increased focus on advertising and the migration of its social games to mobile platforms." Shares of Zynga closed today at $9.05, down 4.74% from Friday's market close.