Oppenheimer initiates Unity Software (NYSE:U) with an Outperform rating and $103 price target, calling the company a “proven success story, run by a visionary management team.”
The firm says Unity is successfully taking share in the $12B video game market and “beginning to see adoption of real-timer 3D content creation,” a $17B market.
Key quote: “Unity operates as a leader in a fast growing, massive video game market with substantial optionality outside of its established market segments to benefit from a proliferation of real-time 3D content applications.”
Credit Suisse starts Unity at Outperform and a $120 price target, viewing Unity as a “highly unique software platform selling into rapidly transforming and growing end markets, with multiple paths to potential revenue upside.”
Key quote: “Today, gaming represents the vastmajority of revenues, although the runway in non-gaming verticals remains significant. While nascent, industries such as Film (virtual studios/movie sets), Architecture, Engineering and