ZNGA, YUM, URGN Stocks Upgraded Today

Cowen raised its price target on Yum shares after they hit an all-time peak on Friday

May 30, 2017 at 9:18 AM
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Analysts are weighing in on internet game developer Zynga Inc (NASDAQ:ZNGA), Taco Bell parent Yum! Brands, Inc. (NYSE:YUM), and healthcare stock Urogen Pharma Ltd (NASDAQ:URGN). Here's a quick roundup of today's bullish brokerage notes on shares of ZNGA, YUM, and URGN.

ZNGA Stock Upgraded at Piper Jaffray

Ahead of Thursday's appearance at the Cowen Technology, Media & Telecom Conference, Zynga saw its rating raised to "overweight" from "neutral," and its price target upped to $4 from $3 at Piper Jaffray. The brokerage firm said that despite increased competition for game stocks, ZNGA's strong management team -- which includes former members of Electronic Arts -- and its focus on cost containment "improve its risk profile."

After closing Friday at $3.49, ZNGA stock is up 2.6% in electronic trading. This would just be more of the same for Zynga shares, which are up 45% from their February low of $2.40 -- and hit a three-year high of $3.63 last Thursday. Most analysts remain on the sidelines, though, with a tepid "hold" recommendation, while the average 12-month price target stands at $3.47.

YUM Stock Price Target Raised After Record High

Several strong bounces off its 200-day moving average earlier this year helped YUM stock soar to a record high $72.52 on Friday, with the shares eventually settling at $71.03 -- up 13.8% on the year. This may be what prompted Cowen and Company to boost their price target on the security to $85 from $80. Regardless, there's plenty of room for more analysts to upwardly revise their ratings, which could draw more buyers to Yum stock's table. More than half of the 16 covering brokerages maintain a "hold" rating, while the consensus annual price target of $74.32 represents a slim 3.1% premium to YUM's current perch.

Brokerage Firms Issue "Buy" Ratings on URGN Stock 

URGN stock received the equivalent of a "buy" initiation from no fewer than four brokerage firms, with Cowen and Company waxing optimistic over the drugmaker's MitoGel and VesiGel cancer treatments. Urogen Pharma went public earlier this month, and since its May 4 open at $13.28, the stock has surged more than 39%, based on Friday's close at $18.48.

 

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