NQ could double from here says Fred Ziegel - Topeka Capital analyst - Article from Bloomberg!
Chinese stocks rose in New York as NQ Mobile (NQ) Inc. surged to a 10-month high after raising its 2013 revenue forecast.
NQ Mobile raised its 2013 sales outlook yesterday to as much as $183 million from an earlier forecast of up to $155 million. The company also said March 4 that it will partner with Mexican billionaire Carlos Slim’s America Movil SAB. American depositary receipts of the Beijing-based company are poised for a 45 percent rally this week, a record jump.
“Everything seems to be clicking in the right direction,” Fred Ziegel, an analyst at Topeka Capital Markets Inc. who rates NQ Mobile buy, said by phone from Petoskey, Michigan. “Despite the big move here in the last few days, we think the stock can still more than double.”