Playtika price target lowered to $8 from $10 at Roth MKM

Roth MKM analyst Eric Handler lowered the firm’s price target on Playtika to $8 from $10 and keeps a Neutral rating on the shares after its Q4 earnigns miss and below-consensus guidance. The company continues to operate in a challenging mobile games environment and expects ongoing headwinds to persist in 2024, the analyst tells investors in a research note. The realization of the cost savings will not be flowing through to the bottom line this year as planned increases in performance marketing will create a more significant offset, the firm added.