NQ Mobile (NQ) Deals Expected to Go Through - Rosenblatt

Rosenblatt analyst Jun Zhang reiterated a Buy rating and $13 price target on NQ Mobile (NYSE: NQ) on expectation that three asset deals will go through in the next 2-3 months, along with better than expected performance of the Showself business.

NQ is selling their mobile health assets to Tack Fiori International (0928HK: NR) for $40M. "We believe it is highly probable this deal will go through," Zhang said.

"It is in our view that their current process of divesting assets for cash are going smoothly. We believe Tsinghua Holdings has completed their due diligence process and injected FL Mobile assets in a Chinese publically-listed company. The NationSky deal took a little longer than originally planned, but we believe this deal will also have a high probability of closing. We look forward to the company giving some updates during their earnings call."

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

Shares of NQ Mobile closed at $3.72 yesterday.

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