Best Buy's Results Positive for ZAGG (ZAGG) - Northland Securities

Northland Securities commented on ZAGG Incorporated (NASDAQ: ZAGG) in light of 30% customer Best Buy's quarterly results.

The firm notes that while weak overall, Best Buy cited 32% growth in mobile, versus 35% last quarter and 13% in the one before that. Best Buy also noted that selling accessories and services are core to its mobile strategy.

"We believe this view is consistent throughout retail and why mobile accessory
shelf space continues to grow," analyst Michael Latimore notes. "Furthermore, Best Buy said it had good growth in tablets."

Regardless of Best Buy's final strategy and owner, today's supports the view that mobile technology and accessories are likely to be key to Best Buy's long-term strategy, the analyst states.

Latimore is maintaining his Buy rating and price target of $18 on ZAGG.

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

Shares of ZAGG Incorporated closed at $6.54 yesterday.

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