Wells Fargo analyst Alec Bonello lowered the firm’s price target on Unity (U) to $29 from $38 and keeps an Overweight rating on the shares. The firm notes that the company reported a positive Q1 preannouncement, with revenue and EBITDA 3% and 22% ahead, and Vector up 15% quarter-over-quarter vs. 10% guide. Wells is updating its model for Q1 pre-announce and IS deprecation, leaving Supersonic in estimates until divestment.
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