InterDigital price target raised to $350 from $270 at Roth Capital

Roth Capital raised the firm’s price target on InterDigital (IDCC) to $350 from $270 and keeps a Buy rating on the shares after the company won a preliminary injunction in Brazil against Disney (DIS) for infringement over two video coding patents. The win is “significant” as it validates InterDigital’s intellectual property and expected monetization, accelerates the process to Disney and other deals, and provides a “launch point to securing” $300M of streaming IP by 2030, the analyst tells investors in a research note. Roth sees no design-around opportunities for Disney.