BTIG Calls Zynga's (ZNGA) Social Games 'New Cure for Boredom'; Starts Coverage at Buy

BTIG's Richard Greenfield and Brandon Ross just initiated coverage on Friday's hot IPO Zynga (Nasdaq: ZNGA). The firm rates the stock a Buy and set a $13 price target.

"Ultimately, Zynga is a media company," the two analysts bubbled the thesis down to. "We view social gaming and particularly Zynga's social games in much the same way -- they are a new 'cure' for boredom and unlike TV, social games can be played anywhere on the plant... while TV requires you to be in your living room..."

The analysts suggest several key drivers to Zynga's growth story:

• the launching of "more games across more platforms, with a powerful network effect to introduce new content"
  
• "acceleration in the global adoption of smartphones and tablets..."
  
• "superior data analytics that leverage its vast network of games and users..."
  
• brand appeal leading to promotions as "the breadth of Zynga's user base expands globally and engagement moves higher."

Visit our Analyst Ratings page to track all the market-moving analyst calls on shares of Zynga.

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