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Fly News Breaks for November 7, 2018
GLUU
Nov 7, 2018 | 05:27 EDT
Piper Jaffray analyst Michael Olson raised his price target for Glu Mobile to $8 from $7.50 citing the company's "strong" Q3 results with bookings and adjusted EBITDA ahead of Street expectations. Glu Mobile is positioned for a "favorable ongoing trajectory," with management reducing dependence on new and celebrity content, along with improving revenue visibility and cost containment, Olson tells investors in a post-earnings research note. He sees a path to multiple expansion and margin improvement and keeps an Overweight rating on Glu Mobile.
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