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Unity downgraded to Underperform from Hold at Jefferies
The Fly

Unity downgraded to Underperform from Hold at Jefferies

Jefferies analyst Andrew Uerkwitz downgraded Unity to Underperform from Hold with an unchanged price target of $19. The analyst says that with a potential recession looming, he’s looking for safety and media names that have "downside de-risked." The analyst believes in real time 3D rendering and says Unity has a stranglehold on game engines. However, he downgraded the shares on valuation, saying he "couldn’t make the valuation work" with using sum-of-the-parts peer group multiples.

Published first on TheFly

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