Analysts: Zynga’s Mobile Transition Will Take Time and 3 More Research Notes to Browse
Zynga (NASDAQ:ZNGA): Morgan Stanley has brought the social game maker from Equal Weight to Underweight, citing recently updated guidance and workforce reduction. The firm believes that the mobile transition will take time, and notes increasing competition on the web. Price target lowered to $2.60 from $3.
Avanir (NASDAQ:AVNR): Piper Jaffray believes Avanir’s deuterated Nuedexta follow-on candidate AVP-786 may have multiple advantages over current Nuedexta, boosting the franchise’s value above current expectations. Piper sees multiple near-term catalysts from data releases, and reiterates an Overweight rating on Avanir with a $6 price target.
GameStop (NYSE:GME): Increased confidence in the company’s position following its survey of console owners has led Piper Jaffray to raised its estimates and price target for GameStop, which keeps an Overweight rating on the shares with a $48 price target, up from $43.
Forest Labs (NYSE:FRX): Goldman upgraded Forest Labs to Buy from Neutral to reflect the depth of transformation into a specialty pharmaceutical, including cost cutting and capital reallocation measures, opportunities for restructuring and strategic alternatives, and margin improvement. The price target has also been raised to $50 from $40.