Adeia price target raised to $18 from $15 at Rosenblatt

Rosenblatt raised the firm’s price target on Adeia (ADEA) to $18 from $15 and keeps a Buy rating on the shares after meeting with management. The firm says Adeia is an “under the radar” artificial intelligence play with an income model carrying 100% gross margin, 60% operating margin and EBITDA while revenue generates 40% cash. It recommends investors take a closer look at Adeia’s business model and opportunities in new media and semiconductor intellectual property.