Wedbush Reports on Majesco Entertainment (COOL)

Wedbush commented on Majesco Entertainment COOL in a report released yesterday. In the report, Wedbush was mixed in its outlook of the company. Wedbush writes, “We are raising our Q2 estimates to reflect Zumba Fitness strength. NPD data shows that Majesco's Q2 U.S. retail sales tracked up ~200% due primarily to strong Zumba Fitness sales. The Wii version of the game was Majesco's best selling title of the quarter, with Zumba Fitness for the 360 and PS3 and multiple Mama games also performing well. As a result, we are raising our Q2 estimates. Despite recent success, it is not clear to us that Majesco will continue to grow over the long-term. A light release slate apart from Zumba Fitness and weakness on its primary platforms may temper long-term growth.” Wedbush currently has a Neutral rating on Majesco and a price target of $3.50. Shares of Majesco closed the trading day yesterday at $3.14, up $0.15 from the open.