Citi analyst Jason Bazinet lowered the firm’s price target on Playtika to $10 from $12 and keeps a Neutral rating on the shares. The analyst adjusted estimates to account for recent weakness in the mobile gaming ecosystem and Playtika’s recently announced workforce reduction. There have been several data points suggesting weakness across the mobile gaming ecosystem, Bazinet tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PLTK:
- Playtika Stock Recovers after B of A Securities Hikes Rating
- BofA upgrades Playtika to Neutral, sees valuation de-risked
- Playtika upgraded to Neutral from Underperform at BofA
- 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