Unity price target lowered to $14 from $20 at Macquarie

Macquarie analyst Tim Nollen lowered the firm’s price target on Unity to $14 from $20 and keeps an Underperform rating on the shares. While the business is understood to be in transition, and there is long-term upside potential, the near-term is still difficult and the turnaround will take time, the analyst tells investors in a research note. Unity’s game engine will need another year or more to show bottom-line improvement, and its ad tech business is still declining, the firm adds.