Unity Software's Bright Horizon: BofA Analyst Upgrades To Buy, Highlights $77M Revenue Lift From Runtime Fees
Portfolio Pulse from Nabaparna Bhattacharya
BofA Global Research analyst Michael J. Funk upgraded Unity Software Inc. (NYSE:U) to Buy from Neutral, raising the price target to $56 from $46. The upgrade is based on improved monetization of Unity's mobile game creation engine and a stabilizing mobile game advertising market. Funk projects incremental revenue of $77 million and $93 million in 2025 from Unity's runtime fees and the retiring of Plus, respectively.
September 15, 2023 | 4:43 pm
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Unity Software's stock has been upgraded by BofA Global Research analyst, with a raised price target. This is due to improved monetization and a stabilizing mobile game ad market.
The upgrade by the BofA analyst is based on improved monetization of Unity's mobile game creation engine and a stabilizing mobile game advertising market. This is expected to lead to increased revenues, which is a positive signal for investors and could lead to an increase in the stock price.
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