Analyst Bullish Towards NQ Mobile Inc (NQ)

By Zachary Wohlberg

Analyst Jun Zhang of Rosenblatt reiterated his Buy rating for NQ Mobile Inc (NYSE:NQ) with a price target of $13, marking a 257% increase from current levels.

Zhang is confident that NQ Mobile’s acquisition of FL Mobile will go through. He does mention that FL Mobile’s management team and Tsinghua’s Jinxing Fund need “to increase their stakes before submitting to the Shenzhen exchange to meet new requirements.” He states that NQ should be able to get more cash from Tsinghua’s Jinxing Fund since its increased investments in FL Mobile are not reversible. This is part of the reason Zhang doesn’t think that NQ has a cash issue.

According to TipRanks, the analyst has a success rate of 19% with an average loss of 18% per recommendation.