Unity initiated with Equal Weight amid turnaround at Wells Fargo

Wells Fargo initiated coverage of Unity (U) with an Equal Weight rating and $20 price target The company’s new management has made strides in turning it around, by trimming the portfolio and rectifying the runtime fee issue, the analyst tells investors in a research note. However, fixing Unity Ads requires even better execution, says Wells, which struggles with the stock’s risk/reward on a turnaround.