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Fly News Breaks for May 28, 2019
ZNGA
May 28, 2019 | 13:49 EDT
After Zynga announced a sale/leaseback deal for its San Francisco headquarters that brings in net cash of about $600M, Piper Jaffray analyst Michael Olson said he believes the primary use of the cash will be potential acquisitions of smaller studios. He is not anticipating a "major, transformative" acquisition, but rather more purchases like ones it has recently completed, added Olson, who keeps an Overweight rating and $7.25 price target on Zynga shares.
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