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Fly News Breaks for May 14, 2019
IMMR
May 14, 2019 | 09:11 EDT
As previously reported, Dougherty upgraded Immersion to Buy from Neutral and established a $13 price target. Analyst Charles Anderson believes Immersion's deal announcement with Samsung and Sony Interactive Entertainment and new FY19 revenue guidance of $38.5M is a reasonable outcome and ends a very expensive litigation period. The analyst has increased confidence in Immersion's ability to realize $75M in annualized royalties, which should generate $30M in EBITDA, and raised estimate to account for incremental contribution. .
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