Unity price target raised to $21 from $18 at BofA

BofA analyst Omar Dessouky raised the firm’s price target on Unity (U) to $21 from $18 and keeps an Underperform rating on the shares. While stating that the Q3 Vector performance slightly weakens the firm’s bear case, BofA thinks current results and guidance are “not enough to maintain the stock’s current valuation.” The firm still expects Unity shares to be volatile and react to future UnityAds channel checks by third-party research firms, regardless of valuation, the analyst tells investors.

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