Fly News Breaks for February 6, 2020
Feb 6, 2020 | 14:46 EDT
Stifle analyst Drew Crum reiterated a Buy rating on Glu Mobile and raised his price target on the shares to $8.75 from $8.00 after the company reported fourth quarter results that came in ahead of expectations. Crum said that growth games increased 10%, and that he was "particularly encouraged" by the commentary around "Disney's Sorcerer's Arena" and thought management was more upbeat on the prospects for this upcoming launch in late Q1 of 2020. The analyst said he sees this as a "key" swing factor for the shares, at least over the near-term.
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