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Zynga price target raised to $3.50 from $2.75 at Piper Jaffray

Piper Jaffray says that while it remains cautious on Zynga's recovery, it has increased optimism over the near-term after its channel checks indicated stability in the company's core business and traction with mobile launches. Piper raised its price target for Zynga shares to $3.50 from $2.75 and keeps a Neutral rating on the stock.