Why King Digital Entertainment (KING) Stock Is Skyrocketing This Morning

NEW YORK (TheStreet) -- Shares of King Digital Entertainment PLC (KING) are soaring 7.00% to $23.40 in pre-market trading on Monday after Piper Jaffray  (PJC) upgraded its rating to "overweight" from "neutral" and raised its price target to $28 from $19.

Piper expects the maker of "Candy Crush" to report second quarter results that meet consensus estimates, and said new game titles in the second half of the year will drive diversification.

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