Rosenblatt Starts iDreamSky (DSKY) at Buy

Rosenblatt initiates coverage on iDreamSky (NASDAQ: DSKY) with a Buy rating, with an $11 price target.

Analyst Jun Zhang commented, "We are initiating with a Buy on iDreamSky, as we believe the mobile game market will be a sustainable, growing market in the next 5 years. We think iDreamSky will be the main beneficiary of mobile game market growth in the next 5 years, and we believe they are currently undervalued."

He added, "We think key catalysts for the stock include: a return to strong revenue growth, the launch of more top ranking games, as well as an increase in China's mobile game market M&A activity will increase the valuations on the mobile game publishers and developers."

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

Shares of iDreamSky closed at $6.88 yesterday.

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