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Fly News Breaks for November 6, 2015
GLUU
Nov 6, 2015 | 05:56 EDT
Piper Jaffray analyst Michael Olson believes shares of Glu Mobile, which traded down 20% to $2.91 post-earnings last night, have valuation support at current levels. The company "significantly" reduced guidance for Q4 to reflect weakness in downloads of new titles in Q3, Olson explains. He cut his price target for Glu to $4.50 from $8.50 and keeps an Overweight rating on the name.
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