Unity price target raised to $33 from $30 at BofA

BofA raised the firm’s price target on Unity (U) to $33 from $30 and keeps a Buy rating on the shares. The firm said the catalyst path for Unity is “clear,” after the company announced an earlier expected launch of its new ad model, strong migration to Unit 6, 50% growth in non-gaming Create revenue, and universally positive momentum in key performance indicators. Q1 guidance is below consensus estimates, but incorporates potential disruption from the new model launch, seasonality, and conservatism, the analyst tells investors in a research note.