William Blair analyst Arjun Bhatia has maintained their bullish stance on IDCC stock, giving a Buy rating on August 29.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Arjun Bhatia has given his Buy rating due to a combination of factors that highlight InterDigital’s strategic legal victories and potential for revenue growth. A significant development is the preliminary injunction granted by a Brazilian court against Disney, which has been found to infringe on InterDigital’s AVC and HEVC patents. This legal win not only boosts InterDigital’s stock value but also strengthens its position in ongoing litigations across multiple jurisdictions, including the U.S. and Germany.
The favorable court ruling in Brazil, being the first among many cases, suggests that InterDigital is on a promising path to monetizing its streaming video patents sooner than anticipated. This development enhances the company’s leverage in negotiations with other streaming service providers, potentially leading to lucrative licensing agreements. The positive momentum from these legal proceedings is a key factor in Bhatia’s optimistic outlook on InterDigital’s stock, underpinning his Buy recommendation.
In another report released on August 29, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $316.00 price target.