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UPDATE: Credit Suisse Initiates Coverage on Sungy Mobile on Undervalued Mobile Traffic Owner

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In a report published Wednesday, Credit Suisse analyst Dick Wei initiated coverage on Sungy Mobile (NASDAQ: GOMO) with an Outperform rating and $23.00 price target.

In the report, Credit Suisse noted, “Unique traffic owner in global mobile internet. We initiate GOMO with an OUTPERFORM rating and a target price of US$23, implying 34.7% potential upside. With a reach of 87 mn Monthly Active Users and good user engagement, GO's series (mobile apps series of GOMO) of apps offer strong distribution capability of third-party Android apps globally. In particular, GOMO's leading position in the Android launcher market and Google Play serve as a valuable entry point for domestic Internet companies to expand overseas.”

Sungy Mobile closed on Tuesday at $16.52.

Latest Ratings for GOMO

Jul 2014CitigroupInitiates Coverage onNeutral
Apr 2014JP MorganUpgradesNeutralOverweight
Feb 2014OppenheimerInitiates Coverage onOutperform

View More Analyst Ratings for GOMO
View the Latest Analyst Ratings

Posted-In: Credit Suisse Dick WeiAnalyst Color Initiation Analyst Ratings


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