Intelligent Protection Management upgraded to Buy at Maxim on strategic shift

As previously reported, Maxim analyst Allen Klee upgraded Intelligent Protection Management (IPM) to Buy from Hold with a $6 price target The company’s acquisition of Newtek Technology Solutions and sale of Paltalk, Camfrog, and Tinychat businesses, shifts the focus to the attractive end markets of outsourced IT hosting for the cloud, cybersecurity, disaster recovery, and procurement, the analyst tells investors in a research note. The settlement of its patent infringement award could also provide over $20M, resulting in additional capital that increases enterprise value estimate, Maxim states, adding that the firm does not expect Intelligent Protection Management to need to raise capital to fund operations.