Rosenblatt Pounds Table on NQ Mobile (NQ); 'Trading Below Net Cash', Highlights Blockchain Tech

December 21, 2017 7:05 AM EST
Get Alerts NQ Hot Sheet
Price: $2.20 --0%

Rating Summary:
    4 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 12
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Rosenblatt analyst Jun Zhang reiterated a Buy rating and $13 price target on NQ Mobile (NYSE: NQ), noting shares are trading below net cash.

Zhang NQ currently has $725 million in cash and notes ($459 million of which includes the divestment of two assets). The stock’s market cap is trading close to $400 million as of yesterday’s close. Further, NQ announced a $150 million stock buyback and management buyout program at $5.25.

The analyst said they have become increasingly interested in the story since the core business has been transforming. "We highlight the smart car system, aka Link Motion, which involves the internet of vehicles and blockchain technology," he commented. "In our view, this could become a several hundred-million dollar revenue business over the next few years."

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 $4.00 yesterday.

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