NQ Mobile (NQ) Rated New Buy at Rosenblatt
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(Updated - May 29, 2015 9:11 AM EDT)
NQ Mobile (NYSE: NQ) initiated with a Buy and $8.10 price target at Rosenblatt Securities, saying fundamentals are stabilizing and there is a potential for asset sales.
Analyst Jun Zhang highlighted:
- We believe that the company could sell some of their assets to Chinese private equity firms and that they might also reverse their decision on FL Mobile and sell the whole business unit.
- Based on sum-of-parts, without considering the mobile entertainment or mobile health business valuations, NQ’s current valuation should be around $730M, or $8.10 per share. If the mobile entertainment and mobile health businesses make some progress, we would see more upside to the stock price.
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