Wedbush Sees Good Things Ahead For King Digital Entertainment PLC

In a report published Thursday, Wedbush analyst Michael Pachter reiterated an Outperform rating and $25.00 price target on

. In the report, Wedbush noted, “Adjusted revenue was $608 million, compared with our estimate of $602 million, and consensus of $604 million. Bookings were $641 million, roughly in line with our expectations. Adjusted EBITDA was $249 million, compared with our estimate of $239 million. Non-GAAP EPS was $0.61, compared with our estimate of $0.64, consensus of $0.59. The company provided initial FY:14 guidance for gross bookings of $2.55 - 2.65 billion, adjusted revenue of $2.40 - 2.50 billion, and adjusted EBITDA margin of approximately 40% of adjusted revenues.” King Digital Entertainment PLC closed on Wednesday at $16.25.