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Fly News Breaks for October 5, 2015
TSRA
Oct 5, 2015 | 09:30 EDT
Barrington analyst Ted Moreau recommends buying shares of Tessera Technologies on any near-term weakness following Barron's cautious article on the company. The article indicates that most of Tessera's revenue growth over the past few years has come from settling patent disputes instead of licensing customers, Moreau tells investors in a research note. However, Moreau says his understanding is that settlements have resulted in less than half of the company's revenue growth. Further, new management has done an "excellent job" of steering the company away from being a patent troll, the analyst argues. He reiterates an Outperform rating on Tessera with a $47 price target.
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