InterDigital price target raised to $475 from $450 at Jefferies

Jefferies analyst Blayne Curtis raised the firm’s price target on InterDigital (IDCC) to $475 from $450 and keeps a Buy rating on the shares following Q3 results. The firm sees the stock going higher after a Q3 beat and Q4 annual recurring revenue outlook in-line, as opportunities in all three verticals continue to come to fruition, according to Jefferies. The firm said it sees InterDigital putting all the pieces together to capture the large streaming opportunity.