Upgrade from JP Morgan analyst on Bloomberg to $4.35 by end of year
Analyst on Bloomberg radio in New York just gave his three top picks for the rest of the year and said ZNGA, ZHNE and HL are his selections.
As for ZNGA, he set a price target of $4.35, saying new boss Don Mattrick is right man for job and will do innovative things with the company.
I just read an article about a likely EA (Electronic Arts) buyout of ZNGA... It is a speculation but the good point of the article is EA couldn't make a transition to mobile yet and it is $25.. In the meantime, ZNGA is making good advertising money already from its mobile games... and it is at $3.. Do those valuations make sense to you since the mobile is the future!