InterDigital price target raised to $160 from $146 at Roth MKM

Roth MKM raised the firm’s price target on InterDigital to $160 from $146 and keeps a Buy rating on the shares. The company’s Analyast Day presentation made no near-term customer announcements, though the management raised its long-term annual recurring revenue targets for CE/IoT and video streaming monetization to $200M from $150M by 2027 and $300M by 2030, the analyst tells investors in a research note. This translates to EPS power of over $17 per share vs. the firm’s prior target of over $10 per share for mobile and CE/IoT in 3+ years, the firm added.