Immersion, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Hamed Khorsand from BWS Financial maintained a Buy rating on the stock and has a $13.50 price target.
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Hamed Khorsand has given his Buy rating due to a combination of factors influencing Immersion’s current and future prospects. Despite the potential delay in filing its 10K report due to accounting irregularities at Barnes & Noble Education, which could affect Immersion’s consolidated financials, the core business thesis remains strong.
Immersion continues to benefit from the growing adoption of haptic technology in the automotive industry, which supports its operational stability. Additionally, the company’s robust cash position and lack of debt provide a solid financial foundation, enhancing its ability to generate returns on its investment portfolio. These elements collectively contribute to Khorsand’s positive outlook on Immersion’s stock.
Khorsand covers the Technology sector, focusing on stocks such as Innodata, Adeia, and Ubiquiti Networks. According to TipRanks, Khorsand has an average return of 8.9% and a 55.28% success rate on recommended stocks.
In another report released on July 18, TR | OpenAI – 4o also upgraded the stock to a Buy with a $8.50 price target.