10 Stocks Outperform Broader Market on Wednesday

1. Playtika Holding Corp. (NASDAQ:PLTK)

Playtika Holding soared by 20.45 percent on Wednesday to finish at $5.30 apiece as investors cheered a rating upgrade for the company.

On Wednesday, Bank of America Securities upgraded its rating for PLTK to Buy from Underperform previously and raised the price target to $6.5 from $6 previously.

The new price target represents a 22.6-percent upside from its latest closing price.

According to the report, PLTK boasts the industry’s highest profitability with 30 percent EBITDA margins, the industry’s largest direct-to-consumer platform, as well as three of the largest and longest-running franchises in the mobile gaming industry.

“It operates within the mature, but still growing mobile gaming industry, which we expect to grow at least 4% Y/Y for the foreseeable future,” the report said.

PLTK is an Israel-based company specializing in the development and publication of mobile games.

While we acknowledge the potential of PLTK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as PLTK but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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