National Alliance Securities Initiates Coverage of Glu Mobile with Buy Rating, $6.58 PT
In a report published earlier today, National Alliance Securities initiated coverage of Glu Mobile (NASDAQ: GLUU) with a Buy rating and a $6.58 price target.
National Alliance went on to say “The company's product portfolio offers a pure play growth nexus between several compelling market trends: mobile gaming, mobile advertising, smartphone / tablet platforms and emerging connected TV. Aggressive market growth combined with a strong game pipeline with leveragable channel partners; should provide a solid performance foundation for near term growth within a visible near term sustained EBITDA inflection point. The current management team has a strong track record of execution, and a dedicated design approach to mobile market opportunities.”
Glu Mobile closed yesterday at $4.72.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.