- New Outperform rating and $9 price target set on Friday
- GLUU posted robust Q1 earnings in May
- Launched mobile game WWE Universe last week
- Sell Side rating average of Outperform
Game developer Glu Mobile (NASDAQ: GLUU) made 2.1% share gains on Friday after Wedbush offered bullish coverage with a new Outperform rating.
Glu delivered an 18% Y/Y rise in revenue ($95.9 million) for the first quarter in May and analysts at Wedbush believe more positive returns are in the offing for FY2020. Its new $9 price target also represents 28% upside.