January 21st, 2009 by Arjan Olsder Posted in Companies & M&A | No Comments »
Gameloft had a good day at the market as analyst WestLB recommended buying the company's shares. WestLB expects that Gameloft will be a winner when the economy recovers.
Following the announcement, the share price had risen 5%.
"Due to the company's top quality products, debt and goodwill free balance sheet and excellent starting position in the market for casual games, the company may well emerge as a winner in the current recession," WestLB analysts say in note.
"Although the short-term outlook looks bleak, we think that many competitors face only two options: market exit and looking for a merger partner."
Read the full news on Reuters.
