Unity price target raised to $45 from $35 at DA Davidson

DA Davidson analyst Franco Granda raised the firm’s price target on Unity to $45 from $35 and keeps a Buy rating on the shares. The company’s Q4 results were "solid", and it made up for a "disappointing" Q1 guide with a 20% EBITDA beat on the full year outlook, the analyst tells investors in a research note. The firm adds that Unity’s accelerated path to profitability is "encouraging" despite top line softness, though it also expects the stock reaction to be muted due to the 30% rally year-to-date.