Unity price target lowered to $19 from $22 at Wells Fargo

Wells Fargo lowered the firm’s price target on Unity (U) to $19 from $22 and keeps an Equal Weight rating on the shares. The firm is also raising Q1 estimates. Checks remain mixed but Wells doesn’t see evidence Grow revenue deteriorates to -9% year-over-year as implied by consensus. Despite higher Q1, the firm continues to see the second half of the year setup as challenging, and remains skeptical of consensus +5% year-over-year Grow revenue in Q4.