Benzinga | Jul 16, 2021 07:26AM EDT

Oppenheimer Initiates Coverage On Playstudios With Outperform, Sees 73% Upside

* Oppenheimer analyst Martin Yang initiated coverage on Playstudios Inc (NASDAQ:MYPS) with an Outperform rating and $11 price target, implying a 72.96% upside.

* Yang stated that the company is an innovator in a fast-growing, massive mobile gaming market whose social casino games have a proven business model.

* Playstudios is in the early stage of taking share in the mobile game market as its value proposition to mobile gamers and business partners are unique and compelling, Yang added.

* Price action: MYPS shares traded higher by 8.02% at $6.87 premarket on the last check Friday.