BofA analyst Omar Dessouky upgraded Playtika to Neutral from Underperform with an unchanged $9 price target. The company’s cost discipline and his modeled free cash flow yield of 14.5% sufficiently de-risks the stock from a valuation and estimate perspective, the analyst tells investors in a research note. Dessouky adds that Playtika management’s decision to discontinue three games also demonstrates its commitment to maintain profitability at scale.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PLTK:
- Playtika Stock Recovers after B of A Securities Hikes Rating
- Joffre Capital Unable to Proceed to Pre-Closing of Purchase Agreement to Acquire 106,102,467 shares of Playtika Stock Due to Issues with Seller and at the Company
- Playtika Announces Extension of Offering Period for Option Exchange
- Playtika downgraded to Equal Weight from Overweight at Morgan Stanley
- Playtika Agrees to $25 Million Minority Investment in Mobile Gaming Company Ace Games
