BWS Financial analyst Hamed Khorsand has maintained their bullish stance on IMMR stock, giving a Buy rating today.
Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Immersion’s financial health and strategic positioning. Despite a challenging business environment impacting revenue, Immersion’s cash reserves have increased, even as the company engaged in share repurchases, indicating strong financial management. The company’s book value has also risen, suggesting an underlying strength in its balance sheet.
Moreover, Immersion’s strategic focus on licensing haptics technology to the automotive industry is a key driver of its investment thesis. The recent disclosure of an automotive license has boosted fixed license revenue, reinforcing the company’s growth potential in this sector. While current market conditions may keep the stock priced below book value, the outlook for new video game consoles and potential improvements in the automotive market present opportunities for future growth.
In another report released today, Craig-Hallum also reiterated a Buy rating on the stock with a $11.00 price target.