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Fly News Breaks for December 21, 2018
ZNGA
Dec 21, 2018 | 07:52 EDT
UBS analyst Eric Sheridan noted Zynga allocated capital toward the acquisition of Small Giant Games, signaling their turnaround efforts are completed and new titles will be a key driver of growth through 2019. He noted the company raised its Q4 guidance and sees some balance sheet flexibility remaining after a mix of buybacks and M&A. Sheridan reiterated his Buy rating and $5 price target on Zynga shares.
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