Canaccord Genuity Maintains a 'Buy' on Glu Mobile (GLUU); Encouraging Meeting with Management

March 22, 2012 8:48 AM EDT
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Price: $2.20 -1.35%

Rating Summary:
    7 Buy, 8 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 11 | Down: 20 | New: 54
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Canaccord Genuity maintains a 'Buy' on Glu Mobile (NASDAQ: GLUU) price target of $7.00.

Analyst, Michael Graham, said, "We are encouraged by the performance of recently released Stardom: The A-List, a Blammo studio product, and Samurai vs. Zombies Defense, a Griptonite production...We believe Glu Mobile will soon enter a phase where its growing scale can help lower the cost of player acquisition for new games through cross promotion targeted at players of existing games...We are increasingly confident that there is significant operating leverage in Glu’s business model and note that our mid-term EBITDA margin forecast has room for upside based on management’s target model."

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 $4.10 yesterday.

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