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The Ratings Game: Zynga analyst turns bullish for first time a day before quarterly results

Zynga Inc.’s stock surged Wednesday after Cowen & Co. turned bullish on the mobile games company for the first time, a day before the release of second-quarter results.

Analyst Doug Creutz raised his rating to outperform, after being at hold since he started covering Zynga in February 2015.

“We are upgrading [Zynga] shares to outperform, which is the first time in the history of our covering the company that we have recommended it as an investment,” Creutz wrote in a note to clients. “The breakout success of the recent release of ‘CSR Racing 2,’ plus steady mobile growth driven by the company’s casino franchises, makes shares attractive at current levels.

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