Benchmark Upgrades Glu Mobile (GLUU) to Buy

Benchmark upgraded Glu Mobile (NASDAQ: GLUU) from Hold to Buy with a price target of $5.60.

Analyst Mike Hickey said, "In our view, management has renewed credibility, from recent product success, after a significant re-tooling of their development expertise. The Company's product portfolio and subsequent financial performance should benefit from the rapidly expanding smartphone / tablet hardware device market and related consumer software ecosystem. We view the Company's risk / reward valuation profile balancing positive (raised from neutral); acknowledging positive trends in mobile gaming market and continued success from recent game launches. "

For an analyst ratings summary and ratings history on Glu Mobile click here. For more ratings news on Glu Mobile click here.

Shares of Glu Mobile closed at $4.45 yesterday.

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