Will Disney's New Game Shield Glu Mobile From the COVID-19 Downturn?
Glu Mobile (NASDAQ: GLUU) recently attracted some bullish interest after several analysts praised its new game, Disney (NYSE: DIS) Sorcerer's Arena. Cowen analyst Doug Creutz, who has an $8 price target with an Outperform rating on Glu, told investors to buy Glu on "any weakness" and declared Sorcerer's Arena would generate long-term profits for the game maker.
Analysts at KeyBanc and SunTrust, which both have the same $8 price target as Cowen, offered similar bullish arguments. The eleven analysts who cover Glu remain overwhelmingly bullish on the stock, with buy- or hold-equivalent ratings. Investors should always take Wall Street's estimates with a grain of salt, but they should still see if this newly licensed Disney game can buoy Glu's stock as COVID-19 headwinds batter the broader markets.
Image source: Glu Mobile.
Source Fool.com
