Unity rises after Morgan Stanley upgrades to 'overweight'

Unity Software

03/09/2024 12:39

** Shares of videogame software provider Unity Software
 U.N  rise ~6.23% to $17.39 premarket after brokerage Morgan
Stanley upgrades the stock to 'overweight' from "equal-weight"
    ** Morgan Stanley expects Unity's strong competitive
position in the game engine market to increase its profit over
time 
    ** Brokerage says "company has maintained its 70% market
share despite significant backlash from its customer base"
    ** Eleven of 29 analysts rate the stock "buy" or higher, 15
"hold" and 3 "sell"; their median price target is $17 - LSEG
data
    ** Stock has fallen nearly 60% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.Srivastava2@thomsonreuters.com;))