Canaccord Genuity Maintains Bullish Stance on Glu Mobile (GLUU) On Solid New Games

Canaccord Genuity reiterated its Buy rating and $7 price target on Glu Mobile (NASDAQ: GLUU) on solid new games.

"We believe Glu Mobile has ended the March quarter with its top games tracking
well on both iOS and Android," the analyst said. "We are encouraged by the solid performance from these early products out of Griptonite and Blammo."

While the company only released three new games in Q1, versus an expected five, Canaccord believes two games were pushed into Q2 for minor reasons, and they still believe the company is on track for at least 20 smart phone game launches in 2012.

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 $5.09 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• HSBC Downgrades Feng Tay Enterprises (9910:TT) to Hold
• Intuitive Surgical (ISRG) PT Raised to $435 at Piper Sandler
• CIMC Enric Holdings Ltd. (3899:HK) (CIMEF) PT Lowered to HK$8.70 at HSBC