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Playtika cut to Neutral at DA Davidson on market share loss, Rovio offer
The Fly

Playtika cut to Neutral at DA Davidson on market share loss, Rovio offer

DA Davidson analyst Franco Granda downgraded Playtika (PLTK) to Neutral from Buy with a price target of $11, down from $15. The analyst is citing the company’s recent market share losses in core Casino market to to SciPlay (SCPL), Moon Active, and AppLovin (APP) – even as the latter is deemphasizing growth on its mobile gaming operations. The firm is also negatives on Playtika’s proposed Rovio acquisition as its reputation in Finland "does not bode well for Rovio employees’ morale".

Published first on TheFly

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