Glu Mobile (GLUU) PT Raised to $10 at Benchmark
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Benchmark analyst Mike Hickey raised the price target on Glu Mobile (NASDAQ: GLUU) to $10.00 (from $9.00) while maintaining a Buy rating.
The analyst commented, "We anticipate GLUU will deliver a solid F1Q20 release; games in channel have been performing strong, offset somewhat by what appears to be potential weakness in TSB 2020 (MLB delayed start). We are optimistic a compelling in-home entertainment trend will benefit GLUU’s game portfolio including growth games Design Home, Covet Fashion, catalog games including Kim Kardashian: Hollywood and new games including Disney Sorcerer’s Arena. We expect GLUU to become more active in the M&A market, where they have a solid track record of driving accretive deals. GLUU ended F4Q19 with $127M in cash and $33M in FCF."
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