Stifel raised the firm’s price target on Unity to $25 from $20 and keeps a Buy rating on the shares after new CEO Matt Bromberg made what the firm called “one of his biggest moves since taking the reins in May” by announcing days ahead of the company’s Unite Developer Conference a definitive price structure that will not include the Unity Runtime Fee. The company is hosting its Unite 2024 Barcelona conference next week, which should serve as a soft launch of Unity 6, notes the analyst, who believes that this move puts Unity on “more stable footing” and should bring greater visibility to subscription revenue growth.
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