Immersion price target lowered to $11 from $14 at Craig-Hallum

Craig-Hallum analyst Anthony Stoss lowered the firm’s price target on Immersion (IMMR) to $11 from $14 and keeps a Buy rating on the shares. Immersion continues to flow through Barnes & Noble Education’s (BNED) results on top of their license and royalty revenues, which were down about 11% year-over-year on a weakening economy, the firm says. Craig-Hallum notes Immersion’s stake in BNED was diluted to 32.3% as additional shares were issued to non-controlling stakeholders.