NQ Mobile Defended By Sell-Side Amid Attack From Muddy Waters

NQ Mobile Inc (ADR) (NYSE:NQ) stock continues to fall on allegations that the company has exaggerated its revenues and misled investors, but some analysts are unmoved and think this is a good opportunity to buy. Analysts from Topeka Capital Markets and Canaccord Genuity have maintained their price targets and Buy ratings based on what they think is a solid response from NQ.

NQ Mobile conference call

“NQ Mobile Inc (ADR) (NYSE:NQ) conducted a very lengthy conference call this morning to address the assertions made in a report published by Muddy Waters,” wrote Topeka Capital’s Frederick Ziegal. He acknowledges that the...