SCPL - SciPlay shares slide after double-notch downgrade at BofA

Seeing better relative returns elsewhere in mobile games, BofA downgrades SciPlay (SCPL) from Buy to Underperform but adds $3 to the price objective for $20.Analyst Ryan Gee says Electronic Arts' recent $2.1B acquisition of Glu Mobile has positive implications for the mobile game space.But Gee is "relatively less optimistic" on SciPlay as a content aggregator vs. peers and is cautious on sustainability of growth from new titles and user acquisition.Gee expects SciPlay to report ahead of estimates when it prints Q4 results early next month.SciPlay shares are down 3.1% pre-market to $20.EA's purchase of Glu Mobile was announced earlier this month.

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SciPlay shares slide after double-notch downgrade at BofA