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Fly News Breaks for October 31, 2019
ZNGA
Oct 31, 2019 | 07:09 EDT
Baird analyst Colin Sebastian said Zynga posted strong Q3 results which reflected the benefits of a live services model. The analyst said the model resulted in an acceleration of mobile growth while its guidance reflects ongoing strength of its current portfolio. He said the 2020 outlook remains largely intact but new game launches will weigh on profitability. Sebastian reiterated his Outperform rating and $8 price target on Zynga shares.
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