Canaccord Genuity Maintains a 'Buy' on Glu Mobile (GLUU); Strong Q1 Should Carry Through 2012

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Canaccord Genuity maintains a 'Buy' on Glu Mobile (NASDAQ: GLUU) price target of $7.00.

Analyst, Michael Graham, said, "Glu reported very strong Q1 results, handily beating our Street-high estimates with fewer new games than anticipated. Glu has a building pipeline of game launches for 2012, which we believe will lead to bookings growth accelerating for the next two years...We raise 2012E EBITDA slightly, while leaving our bookings estimates essentially unchanged."

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 $4.61 yesterday, with a 52 week range of $1.80-$6.10.

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