Stock Track | Unity Software Soars 5.03% as Morgan Stanley Reiterates Buy on Bullish Outlook

Stock Track11-22

Shares of Unity Software Inc. (U) soared 5.03% in intraday trading on Friday, outperforming the broader market. The rally was fueled by an influential investment bank maintaining its bullish stance on the video game engine developer.

Morgan Stanley analyst Matthew Cost reiterated his "overweight" or buy recommendation on Unity Software's stock. He cited several positive developments during recent investor meetings with the company's CEO Matt Bromberg.

Cost highlighted Unity's plans to introduce a new advertising model in 2025 that is expected to boost the company's "grow solutions" business. Additionally, Unity is working on leveraging its vast data trove through the development of a neural network powered by artificial intelligence (AI). The company also aims to streamline its advertising operations into a single platform as part of broader cost-cutting efforts.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment