Worlds are colliding. According to Benchmark analyst Mike Hickey, mobile game publisher Glu Mobile (NASDAQ:$GLUU) is on the path to a turnaround thanks to Grammy Award-winning pop star Taylor Swift.
Hickey upgraded Glu Mobile from ‘Hold’ to ‘Buy’ and set a price target of 6. After the upgrade, Glu shares were up 8% today.
The upgrade comes a day after the San Francisco-based company announced details about “The Swift Life”, which is a new digital entertainment project in partnership with Taylor Swift.
“We are cautiously optimistic on the upcoming launch of ‘The Swift Life,’ a social platform from Taylor Swift, offering fans a direct engagement platform with the artist,” Hickey said. “We estimate Taylor Swift has several hundred million social followers across social media networks.”
Glu Mobile disclosed that the app will be available soon in a beta test but it will be only available in limited territories worldwide.
The Street analysts are expecting Glu Mobile to return to profitability in 2018 after two consecutive money-losing years.
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