Here’s Why Rosenblatt Securities Raised Price Target For NQ Mobile Inc (ADR)
NQ Mobile Logo (PRNewsFoto/NetQin Mobile Inc.)
In a research report released yesterday, Rosenblatt Securities analyst Jun Zhang reiterated a Buy rating on shares of NQ Mobile Inc (ADR) (NYSE:NQ) and raised the price target to $13, which implies an upside of 201% from current levels.
Zhang explained, “We are raising our price target to $13 on multiple factors: a solid quarter and guidance, over $10 net cash per share after FL Mobile and NationSky close, a fast growing Showself business, and a valuation of Showself business at $350M based on 20X 2016’s net profits and $900M net cash.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jun Zhang has a total average return of -20.2% and a 25.0% success rate. Zhang has a -5.5% average return when recommending NQ, and is ranked #3502 out of 3741 analysts.
The 2 analysts polled by TipRanks rate NQ Mobile stock a Buy. With a return potential of 80.6%, the stock’s consensus target price stands at $7.80.