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InterDigital set ‘strong’ long-term targets, says Jefferies

Jefferies analyst Blayne Curtis says InterDigital set “strong” long-term targets and provided significant detail on the ongoing business, adding that the largest update at the company’s investor day was the quantification of the streaming potential. While the event provided a good view into the opportunity ahead, and the firm sees more room for the upside case following the investor day, it still views InterDigital as “a show me story” without more evidence on the ability to get China smartphone vendors and greenfield streaming companies to pay. Jefferies has a Hold rating and $130 price target on InterDigital shares.

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