More on BofA's two-notch upgrade of Zynga (ZNGA +5.3%): The firm, which is raising its PT to...

|About: Zynga (ZNGA)|By:, SA News Editor
More on BofA's two-notch upgrade of Zynga (ZNGA +5.3%): The firm, which is raising its PT to $3.40 from $2.70, thinks Q4/2012 bookings could beat guidance when Zynga reports today. It also thinks mobile trends have stabilized (plummeting activity for Draw Something took a toll on Q3 results), and argues downside is limited by $2.20/share in cash and assets, a $200M/year online poker business, and a $150M-$200M/year mobile business.