Buy - Price 9.39 on Oct. 2
by Needham & Co.
We're lowering [our estimates] for CY08 to reflect nonrenewal of a meaningful Hasbro contract and in light of some softness in Europe. Our new CY08 revenue, adjusted Ebitda [earnings before interest, taxes, depreciation and amortization] and adjusted EPS estimates are $86.3 million, $8.6 million and 32 cents, respectively, as compared to $98.1 million, $18 million and 58 cents previously....We're also lowering our 12-month target to 12, from 14, based on 28 times our 33-cent CY09 cash EPS estimate plus $3 per share in projected net cash....We believe GLUU shares largely reflect our new earnings outlook. As such, our new target represents 20% upside from current levels....We remain bullish on the longer-term organic-growth outlook for both the mobile-content sector and Glu specifically -- a leading mobile-game publisher [that] distributes its content primarily through its extensive network of wireless-carrier partners.

Buy - Price 9.39 on Oct. 2
by Needham & Co.
We're lowering [our estimates] for CY08 to reflect nonrenewal of a meaningful Hasbro contract and in light of some softness in Europe. Our new CY08 revenue, adjusted Ebitda [earnings before interest, taxes, depreciation and amortization] and adjusted EPS estimates are $86.3 million, $8.6 million and 32 cents, respectively, as compared to $98.1 million, $18 million and 58 cents previously....We're also lowering our 12-month target to 12, from 14, based on 28 times our 33-cent CY09 cash EPS estimate plus $3 per share in projected net cash....We believe GLUU shares largely reflect our new earnings outlook. As such, our new target represents 20% upside from current levels....We remain bullish on the longer-term organic-growth outlook for both the mobile-content sector and Glu specifically -- a leading mobile-game publisher [that] distributes its content primarily through its extensive network of wireless-carrier partners.

cheap,the mobile future

Long term growth of mobile game market. Takeover target.

11.51