Ladenburg Thalmann Expects Strong Growth through 2012 for Zagg Incorporated
Ladenburg Thalmann has published a research report on Zagg Incorporated (NASDAQ: ZAGG) saying that it anticipates strong growth for FY2012.
In the report, Ladenburg Thalmann writes, "Recent projections from Gartner indicate that there will be 665 million media tablets in use worldwide in 2016 and the company is forecasting sales of nearly 119 million tablets in 2012, a growth rate of nearly 100% above 2011. These numbers are a notable contrast to the rather sluggish sales of personal computers during the last couple of years. Additionally, the recent impressive public debut of Millennial Media (MM, $19.17, Not Rated), a mobile ad platform, and Facebook's $1 billion purchase of the mobile app company, Instagram (a company with minimal revenues), are further indications of the growing popularity of “all things mobile”."
Ladenburg Thalmann maintains its Buy rating and $21 price target on ZAGG, which is currently trading $0.13 from yesterday's $11.03 closing price.
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