Unity Software (U) PT Raised to $35 at Stifel

Stifel analyst J. Parker Lane raised the price target on Unity Software (NYSE: U) to $35.00 (from $28.00) while maintaining a Buy rating.

The analyst comments "Unity shares inflected today after the company printed 4Q results/guided for 1Q, and provided positive updates regarding the company's upcoming advertising platform update, Vector. While the company has discussed back-end investments to drive improvements in its existing monetization solutions throughout the last year, management offered a more substantive vision and timeline around the rollout of new features and the positive impact these models will have in improving customer ROI. Management's 1Q guide reflects the uncertainty (and some conservatism, we think) around the rollout of Vector, setting the company up well for a beat/ raise cadence, assuming things progress as expected or better. We maintain our Buy Rating and are increasing our Target Price to $35 on U shares."

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