RPX Corporation (RPXC) Shares Remain Undervalued, Recent Takeover Speculation is Incremental Positive - Baird
Get Alerts RPXC Hot Sheet
Rating Summary:
2 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 10 | New: 11
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Baird maintains Outperform on RPX Corp (NASDAQ: RPXC) price target of $15.00.
Analyst Jeff Meuler comments "RPXC reportedly received a recent takeout offer at a meaningful premium (~$800mn; $16.25/sh. and ~27% premium to current share price), although not confirmed beyond the reported press account. IAM also previously reported multiple PE offers for RPX earlier this year, and reported the departure of RPX's former CEO before it was formally announced by the company. Reiterate Outperform rating, and remain of the view that shares trade materially below intrinsic value for a competitively advantaged company, with largely subscription revenue, attractive client base, and solid renewal rates." The analyst feels the takeover speculation is an incremental positive if true.
For an analyst ratings summary and ratings history on RPX Corp click here. For more ratings news on RPX Corp click here.
Shares of RPX Corp closed at $12.79 yesterday.
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