Unity Software will continue to benefit from a better monetized game engine to aid developers, according to Bank of America.
Unity Software stock can ride a mobile gaming wave to huge upside, according to Bank of America. The firm upgraded Unity stock to buy from neutral in a Friday note, and raised its price target to $56 per share from $46. Based on its Thursday closing price of $35.71, that's a potential gain of 56.8%. Unity stock has climbed roughly 25% from the start of the year. U YTD mountain Unity Software stock.
Analyst Michael Funk says the company will find success in monetizing its mobile game creation tool, and will dually benefit from higher gaming advertising. "Improved monetization of U's industry leading mobile game creation engine paired with a stabilizing mobile game advertising market create a compelling risk-reward profile, in our view," Funk said. "With well-understood idiosyncratic execution and integration risks abating, we expect the stock to re-rate higher.
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