NQ Mobile weakness a 'rare opportunity' for investors, says Macquarie
Macquarie believes NQ Mobile weakness due to the negative Muddy Waters accusations is a "rare opportunity" for investors to purchase shares. The firm's research indicates classifying term deposits as Level 2 asset is common practice in order to meet U.S. GAAP guidelines. The firm notes that Baidu and Sina have substantial parts of their cash classified as Level 2 assets and believes it has no bearing on NQ Mobile's operations. Shares are Buy rated with a $26 price target.