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Fly News Breaks for May 31, 2018
ZNGA
May 31, 2018 | 05:15 EDT
Piper Jaffray analyst Michael Olson says Zynga's $250M acquisition of Gram Games brings a profitably growing revenue stream. Gram brings a development team that has been responsible for several solid titles, including the company's most successful title, Merge Dragons, Olson tells investors in a research note. He believes Zynga is "building a pipeline of new titles and has several potential growth drivers." The analyst maintains an Overweight rating on the shares with a $5 price target.
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