Unity Software Inc. gained an analyst upgrade on Friday on the belief that the app-monetization and game-engine company’s new game-developer fees will...
Unity Software Inc. U, +0.53% gained an analyst upgrade on Friday on the belief that the app-monetization and game-engine company’s new game-developer fees will achieve “monetization of industry leading game creation engine.” On Friday, B of A analyst Michael Funk upgraded Unity to a buy from a previous neutral, and hiked his price target to $56 from $46, because his analysis of the company’s new fee structure was “unlocking” the company’s “engine for growth.
” On Wednesday, Unity met with blowback after it announced it would charge more established game developers every time their game was downloaded. One analyst considered it a “PR disaster,” but saw the upside in the new fees, while shares fell 5.5% Wednesday, and another 3% on Thursday. Funk said he believes mobile ad spending has stabilized and that “known risks and execution issues are more than priced into the stock.” Unity shares were up 0.
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