Analyst Hamed Khorsand of BWS Financial maintained a Buy rating on Immersion, retaining the price target of $13.50.
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Hamed Khorsand has given his Buy rating due to a combination of factors that highlight Immersion’s financial positioning and potential for growth. One of the primary reasons is the company’s substantial cash and securities holdings, which stand at $188.8 million, significantly exceeding its current market valuation. This financial strength provides a solid foundation for the company’s operations and potential future investments.
Moreover, despite the ongoing restatement process of its financial statements due to its stake in Barnes & Noble Education, Immersion’s stock is trading at a level that does not reflect its intrinsic value. The completion of the restatement process and the subsequent filing of 14F-HR with the SEC are expected to attract more investor attention, potentially driving the stock price upwards. These factors combined suggest a promising outlook for Immersion, justifying the Buy rating.