Unity downgraded to Hold from Buy at HSBC

HSBC analyst Mohammed Khallouf downgraded Unity (U) to Hold from Buy with a price target of $40.80, up from $37.50. While Unity remains on the right track, valuation now appears fair after year-to-date share price gains, the analyst tells investors in a research note. The firm sees scope for continued outperformance with the rollout of Vector and potential for the mobile games industry to benefit from regulatory-driven changes to app store policies.

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