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Fly News Breaks for December 28, 2015
GLUU
Dec 28, 2015 | 08:56 EDT
Cowen said Glu Mobile's Katy Perry Pop is off to a slow start in its global launch, but the firm feels it is essentially in "soft" launch since marketing has been virtually non-existent. Cowen believes the shares are now discounting a major, yet unlikely, decline in revenues in 2016 but expects its pipeline to deliver sufficient revenues. Cowen reiterated its Outperform rating and $5 price target on Glu Mobile shares.
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