Shares in the Aim-traded company NetPlay TV (NPT: 20.25p) have now produced a 60 per cent gain since I first initiated coverage at 12.5p nine months ago ('A share to hit the jackpot', 11 February 2013) and news of a major acquisition this week was taken warmly by the market. It's only realistic to expect these gains to be extended in the coming weeks as more investors digest the positive implications of the deal and for the share price to make headway towards my upgraded target price of 24p. It also vindicates my decision three weeks ago to maintain my positive stance on Netplay's shares when they were trading at 18p, even though the price was making heavy work of breaking through its 12-month high of 19.8p (‘Punting on new highs’, 16 October 2013).
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