As previously reported, BofA reinstated coverage of Unity (U) with an Underperform rating and $15 price target The firm is “unconvinced” that Unity’s game engine business, or the Create segment, can create further shareholder value via its seat-based subscription sales, the analyst tells investors. Further, BofA is not sure that Unity’s substantial game engine investment can monetize via ads, noting that 70% of mobile games run on Unity Engine, but only about 10% of developers pay.
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