Zynga Closes Slightly Higher Following Bullish Analyst Report

Zynga inched higher today, closing up 19 cents, or 2 percent, to $9.24 a share, following a report by Wedbush’s Michael Pachter, who initiated coverage with an outperform rating and a $12.50 price target. “We believe Zynga is well-positioned for revenue growth due to its dominant market share among social game publishers,” he wrote in a note to investors. The social gaming company’s stock still has a ways to go to reach its IPO price of $10.

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There’s a lot of attention and PR around Marissa, but their product lineup just kind of blows.

— Om Malik on Bloomberg TV, talking about Yahoo, the September issue of Vogue Magazine, and our overdependence on Google