BofA/Merrill sees "less valuation upside" for Zynga (ZNGA -4%) following a 47% YTD gain, and has...

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

BofA/Merrill sees "less valuation upside" for Zynga (ZNGA -4%) following a 47% YTD gain, and has cut shares to Neutral. Shares now reflect the long-term potential value of Zynga's core franchises, says analyst Justin Post, and "competitive real-money poker launches and summer seasonality on core businesses could limit further enthusiasm." BofA upgraded Zynga on Feb. 5, just ahead of a well-received Q4 report.