Goldman Sachs Starts Zynga (ZNGA) at Buy, Sees 34% Upside

Goldman Sachs initiates coverage on recent IPO Zynga (NASDAQ: ZNGA) with a Buy rating and $13 price target as the quite period ends.

The firm said Zynga represents a leveraged opportunity in the growth in social networking, online gaming, and online payments.

While Goldman sees significant volatility due to the early stage nature of the business, they believe the company has competitive advantages, management, and scale to capitalize on opportunities.

With the quite period ending on the IPO, a number of other firms also launched coverage today. See below:

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 $9.71 yesterday.

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