Unwired Planet (UPIP) Price Target Lifted at Northland Capital Markets

Northland Capital Markets reiterated an Outperform rating on Unwired Planet (NASDAQ: UPIP) and raised its price target from $3.25 to $4.00

Analyst Michael Latimore said, "We are increasing our target to $4 given more clarity on UP's expected royalty rates. Updating model to assume $0.40 per device instead of $0.25. As part of UP's European litigation (Samsung, Huawei, Google), UP published its royalty proposal at $0.75 per major market mobile device, with a 20% discount for prepay. Also offers negotiated rates for cloud services and 0.45% of infrastructure sales; licensing in these areas would be upside to our model."

For an analyst ratings summary and ratings history on Unwired Planet click here. For more ratings news on Unwired Planet click here.

Shares of Unwired Planet closed at $2.17 yesterday.

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