Canaccord Genuity Reiterates a 'Buy' on NQ Mobile (NQ); Raising Estimates on NationSky Acquisition
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Price: $8.46 -0.47%
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 22 | New: 29
Rating Summary:
4 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 22 | New: 29
Trade NQ Now!
Canaccord Genuity reiterates a 'Buy' on NQ Mobile (NYSE: NQ) price target of $17.00.
Analyst, T. Michael Walkley, said, "With the NationSky acquisition closing during Q2/12, we are adding NationSky to our NQ Mobile estimates. We believe NQ management is wisely investing to build the team and infrastructure necessary to support a global customer base and larger company. We believe the fast growing smartphone market combined with the increasing importance of downloading applications should result in strong growth trends for mobile security and productivity software suppliers. Given NQ Mobile’s strong share in China, expanding global customer base, and growing deals with leading wireless partners, we reiterate our rating."
"With the addition of NationSky, we are increasing our 2012 pro forma EPS estimate from $0.65 to $0.67 and our F2013 estimate from $0.94 to $0.96."
For an analyst ratings summary and ratings history on NQ Mobile click here. For more ratings news on NQ Mobile click here.
Shares of NQ Mobile closed at $6.58 yesterday, with a 52 week range of $3.46-$12.70.
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Analyst, T. Michael Walkley, said, "With the NationSky acquisition closing during Q2/12, we are adding NationSky to our NQ Mobile estimates. We believe NQ management is wisely investing to build the team and infrastructure necessary to support a global customer base and larger company. We believe the fast growing smartphone market combined with the increasing importance of downloading applications should result in strong growth trends for mobile security and productivity software suppliers. Given NQ Mobile’s strong share in China, expanding global customer base, and growing deals with leading wireless partners, we reiterate our rating."
"With the addition of NationSky, we are increasing our 2012 pro forma EPS estimate from $0.65 to $0.67 and our F2013 estimate from $0.94 to $0.96."
For an analyst ratings summary and ratings history on NQ Mobile click here. For more ratings news on NQ Mobile click here.
Shares of NQ Mobile closed at $6.58 yesterday, with a 52 week range of $3.46-$12.70.
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