Wedbush is out defending Zynga (ZNGA -17.7%) in the midst of a rather nasty post-earnings...

|About: Zynga (ZNGA)|By:, SA News Editor

Wedbush is out defending Zynga (ZNGA -17.7%) in the midst of a rather nasty post-earnings sell-off triggered by the company's decision not to pursue real money gaming in the U.S. A company-wide review by CEO Don Mattrick "will result in a further streamlining of operations [and] will help the company to better focus on its more immediate revenue opportunities," analyst Michael Pachter says, maintaining an Overweight rating and a $4.25 PT. Meanwhile, Canaccord's Michael Graham is "optimistically cautious" based on Mattrick's willingness to "roll up his sleeves" and the company's "cash cushion." (Previous: Needham removes Buy on ZNGA)