UPDATE: M Partners Reiterates Buy Rating, Raises PT on InterDigital on Strong Q4'12 Earnings
In a report published Wednesday, M Partners reiterated its Buy rating on InterDigital (NASDAQ: IDCC), and raised its price target from $51.00 to $53.00.
M Partners noted, “A conference call was held on Thursday February 21st, and the company filed its 10-K report yesterday. After record Q3'12 earnings, driven by the windfall from the sale of patents for approximately $375M, we anticipate a very weak earnings quarter for Q4'12. The company beat our expectation by recognizing past infringement revenue associated with a new licensee.”
InterDigital closed on Tuesday at $44.81.
Latest Ratings for IDCC
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 2020 | Oppenheimer | Initiates Coverage On | Outperform | |
| Jan 2020 | B. Riley Securities | Reiterates | Buy | |
| Aug 2019 | B. Riley Securities | Maintains | Buy |
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Posted-In: M PartnersAnalyst Color Price Target Analyst Ratings
