Why Is Mobile Games Giant Playtika Soaring On Wednesday?

BofA Securities analyst Omar Dessouky double-upgraded the shares of Playtika Holding Corp PLTK on Wednesday from Underperform to Buy and raised the price forecast from $6 to$6.50.The company has the highest profitability in the industry, with 30% EBITDA margins, and is home to some of the largest mobile gaming franchises, the analyst said.Despite being in a mature yet growing industry, PLTK’s 21% FCF yield and 9% dividend yield suggest limited downside.The stock’s recent dislocation is attributed to shareh ...