Adeia price target raised to $20 from $17 at Maxim

Maxim raised the firm’s price target on Adeia (ADEA) to $20 from $17 and keeps a Buy rating on the shares after the company entered into a long-term licensing agreement with the Disney (DIS). The firm is raising its estimates to reflect the successful deal, but also cautions investors that the sizable increase in 2025 guidance likely reflects substantial catch-up payments, and the future impact on recurring revenue is likely to be far less, the analyst tells investors in a research note. With industry bellwethers Amazon (AMZN) and Disney licensed in the past year, Adeia is in a strong position to expand licensing in the streaming market, Maxim adds.