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Gameloft Shares Rise Thanks to WestLB

January 21st, 2009 by Arjan Olsder Posted in Companies & M&A | No Comments »

WestLB
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.

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