Jefferies raises InterDigital PT on potential earnings boost

InterDigital

21/02/2023 19:44

** Jefferies raises PT for wireless and video technologies
developer InterDigital Inc  IDCC.O  to $85 from $80; maintains
"buy" rating
    ** If IDCC meets its annual recurring revenue target, its
five-year EPS could be boosted by over $7, Jefferies says
    ** IDCC last week reported Q4 adj. EBITDA of $64.9 mln vs
Wall St ests of $56.3 mln - Refinitiv IBES 
    ** Last month, IDCC agreed to renew its patent license
agreement with Samsung Electronics
    ** IDCC also said its Q1 forecast of recurring rev. in the
range of $94 mln to $98 mln is based on a conservative est. for
its binding agreement with Samsung 
    ** IDCC is up ~47% YTD 
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))