Unity initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of Unity (U) with a Buy rating and $52 price target. The firm believes a premium valuation multiple is justified given promising early traction for Unity’s Vector AI technology, adding that relative to consensus, its Unity valuation multiple is under half of that of AppLovin (APP), which it adds “has been dominant within the mobile video space for years and is seeing early traction within ecommerce.”

Claim 30% Off TipRanks