Will Glu Mobile Stock Bounce Back in 2020?
One of the hottest mobile gaming stocks of 2017 and 2018 was a dud in 2019, but this is a new year of opportunities for Glu Mobile (NASDAQ: GLUU). Morgan Stanley analyst Matthew Cost initiated coverage of the developer of lifestyle, sporting, and licensed mobile games on Tuesday with a bullish overweight rating. His $7.75 price target is 32% higher than where the stock closed Monday.
Cost feels that Glu Mobile is on track to deliver better-than-expected earnings in the near future. He expects the mobile app publisher will continue to cash in on its popular franchises as it diversifies its portfolio with a couple of new launches a year.
Image source: Glu Mobile.
Source Fool.com
