GARP Research Maintains a 'Buy' on Acacia Research (ACTG); Blowout Quarter
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Price: $4.89 -1.81%
Rating Summary:
7 Buy, 0 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
7 Buy, 0 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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GARP Research maintains a 'Buy' on Acacia Research (NASDAQ: ACTG) price target of $42.00.
Analyst, Rob Furlong, said, "We think the rise of intellectual property as an asset class is in its early days. Moreover, the company recently shifted its strategy from exclusively partnering to purchasing some portfolios outright. We think this considerably expands the amount of IP Acacia now has access to. Both of these factors could help the company quadruple earnings by 2014 as it monetizes current and future licensing programs. ACTG looks attractive to us at 10x (net of cash) our fully-taxed out-year EPS estimate of $3.15 because we think institutional investors are just starting to dip their toes in the realm of IP and several scenarios could push that EPS figure higher.
For an analyst ratings summary and ratings history on Acacia Research click here. For more ratings news on Acacia Research click here.
Shares of Acacia Research closed at $39.38 yesterday.
Analyst, Rob Furlong, said, "We think the rise of intellectual property as an asset class is in its early days. Moreover, the company recently shifted its strategy from exclusively partnering to purchasing some portfolios outright. We think this considerably expands the amount of IP Acacia now has access to. Both of these factors could help the company quadruple earnings by 2014 as it monetizes current and future licensing programs. ACTG looks attractive to us at 10x (net of cash) our fully-taxed out-year EPS estimate of $3.15 because we think institutional investors are just starting to dip their toes in the realm of IP and several scenarios could push that EPS figure higher.
For an analyst ratings summary and ratings history on Acacia Research click here. For more ratings news on Acacia Research click here.
Shares of Acacia Research closed at $39.38 yesterday.
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