InterDigital Inc (IDCC)

[redviking]

B. Riley analyst, Eric Wold, reiterated his Buy rating on shares of InterDigital Inc. (NASDAQ: IDCC) following the announced upside to Q2 guidance on 5/11 and a positive meeting with management at the B. Riley Investor Conference on 5/24. The analyst maintained his price target of $100 but noted that this is a step on a longer term march to the $145 level.

The analyst believes the combination of meaningful past royalty payment obligations (which only grow each day), the acquisition of Hillcrest Labs and direct license agreements with Huawei and Apple provides IDCC with attractive negotiating leverage to get the remaining handset OEMs under license – which should drive a significant upside bias to forward projections and potential for share appreciation.

https://www.streetinsider.com/Analyst+Comments/InterDigital+%28IDCC%29%3A+Revisiting+The+Model+And+Finding+EPS+Upside+-+B.Riley/12993272.html