Sterne Agee CRT Says Zynga's (ZNGA) New Launch 'Empires and Allies' is Showing Early Promise

Sterne Agee CRT maintain a Neutral rating on Zynga (NASDAQ: ZNGA) following, Empires and Allies, title launch.

Sterne Agee CRT analyst Arvind Bhatia commented on the release, saying, "Zynga’s recently launched title, Empires and Allies, has been climbing the charts over the last few days and as of yesterday was in the top 30 in terms of monetization. If the title sustains this level over the coming months, it may prove to be a catalyst to the stock. Zynga has promised to launch 6 to 8 new titles this year and potential success with Empires and Allies could help investors feel comfortable with the upcoming titles. To be sure, it is still very early days and Empires and Allies is not a new IP (though it is new on mobile) and as such, this early success may prove short-lived. Still, we think the initial trends are worth keeping an eye on, especially as we look forward to the next title launch (Dawn of Titans) in the coming months."

For an analyst ratings summary and ratings history on Zynga click here. For more ratings news on Zynga click here.

Shares of Zynga closed at $3.01 yesterday.

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