NQ Mobile (NQ) Price Target, Estimates Raised at Topeka Capital $36.75
Topeka Capital maintained a Buy rating on NQ Mobile (NYSE: NQ) and raised its price target to $36.75 (from $34.25). Analyst Frederick Ziegel also raised revenue and earnings estimates following meeting yesterday with NQ management.
"Following yesterday's analyst meeting, we are raising our 2014 revenue and EPS estimates and price target to reflect NQ's initial revenue guidance for 2014 of $305-$310mm (+60%), above our Street high $292mm. The near-$20mm revenue increase, coupled with similar margin assumptions, drives a $0.10 increase in our 2014 EPS estimate to $1.47 and an increase in our price target to $36.75 (from $34.25)," said Ziegel 11/20/13 EST