Unity Software jumps after Jefferies sets Street-high PT on stock
Shares of videogame software maker Unity Software U.N climb 8.8% to $32.30 premarket
Stock set to open at its highest level in over four months, if gains hold
Brokerage Jefferies raises its PT on stock to $35 from $29, the highest on Wall Street, according to data compiled by LSEG
New PT represents a near 18% upside to stock's last closing price of $29.69
Jefferies says it noted incrementally positive comments about U's ad targeting model Vector in its Q2 mobile game Ad Tech survey
"We expect the impact of Vector to be seen over multiple quarters, and are overall encouraged by the q/q improvement," Jefferies says
Brokerage maintains "buy" rating on stock; raises its FY25 and FY26 revenue forecasts by 2% and 3%, respectively
Of the 29 brokerages that cover the stock, 14 rate it "buy" or higher, 14 "hold" and one "sell"; their median PT is $25.9
As of Tuesday's close, stock was up about 32% YTD
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