Topeka Capital Reiterates a Buy Rating on NQ Mobile

By George MacDonald

In a report released today, Frederick Ziegel from Topeka Capital reiterated a Buy rating on NQ Mobile (NYSE: NQ), with a price target of $8.50. The company’s shares closed yesterday at $3.46, close to its 52-week low of $3.45.

NQ Mobile has an analyst consensus of Strong Buy, with a price target consensus of $33.

The company has a one year high of $22.33 and a one year low of $3.45. Currently, NQ Mobile has an average volume of 3.63M.

According to TipRanks.com, Ziegel is ranked 0 out of 5 stars with an average return of -10.3% and a 42.1% success rate. Ziegel covers the Technology sector, focusing on stocks such as Palo Alto Networks, Symantec Corp., and Check Point.

NQ Mobile Inc through, its subsidiaries, is engaged in the provision of mobile Internet services in the People’s Republic of China and overseas market. Its service portfolio includes mobile security and privacy protection, mobile games and advertising.