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Fly News Breaks for July 20, 2017
ZNGA
Jul 20, 2017 | 09:25 EDT
Morgan Stanley analyst Brian Nowak is bullish on Zynga and positive on the Q2 report saying he expects adjusted EBITDA of $4M, 16% above consensus, and inline revenues. He expects outperformance to be driven by opex discipline and from strong performances from CSR2 and slots. Nowak believes the Zynga's strong Q1 performance was the beginning of a multi-year turnaround driven and reiterates his Overweight rating and $4.50 price target.
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