UPDATE: BofA/Merrill Lynch Downgrades Zynga (ZNGA) to Neutral

March 20, 2013 7:05 AM EDT Send to a Friend
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Price: $2.60 -1.14%

Rating Summary:
    5 Buy, 20 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 3 | Down: 17 | New: 2
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(Updated - March 20, 2013 11:56 AM EDT)

BofA/Merrill Lynch downgraded Zynga (NASDAQ: ZNGA) from Buy to Neutral. The downgrade follows a significant run in the stock and is related to valuation. Analyst Justin Post said the stock already reflects potential value from its games and cautioned about risk from new competitive real-money poker launches.

"The only driver of meaningful earnings surprise in 2013, in our view, is with a hit new social PC game, which is unlikely and difficult to predict," said Post.

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 $3.47 yesterday.


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