Acacia Research price target lowered to $6 from $7 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Acacia Research (ACTG) to $6 from $7 and keeps a Buy rating on the shares. The firm believes the stock being down hard yesterday was due to an incorrect reading and sees it as a buying opportunity. Craig-Hallum thinks Acacia Research offers investors a relatively safe harbor in the market as it is trading below its fully diluted book value per share of $5.38.