Ron Burgundy Posted May 5, 2014 Share Posted May 5, 2014 (Reuters) - The three lead underwriters of King Digital Entertainment Plc's IPO started coverage of the stock with "buy" ratings or the equivalent, two days ahead of the release of the "Candy Crush Saga" game maker's first results as a public company. King Digital's shares rose 1.7 percent before the bell on Monday, at the expiry of a 40-day "quiet period" for underwriters to issue recommendations after the IPO. "Candy Crush peaked in mid-2013, but we expect it to still have a long tail of monetization driven by updated content, increased distribution, and effective marketing," analysts at J.P. Morgan Securities said in a research report. The analysts have an "overweight" rating on the stock, with a target price of $30 compared with the IPO price of $22.50. View the full article Quote Link to comment Share on other sites More sharing options...
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