Rosenblatt analyst Kevin Cassidy initiated coverage of Adeia with a Buy rating and $15 price target. The company’s profitability profile is among the best in public markets with solid growth potential in both media and semiconductor IP, the analyst tells investors in a research note. The stock is also undervalued, trading at 8-times expected next-12-months earnings given its 5% 5-year CAGR with operating margin above 60%, the firm added.
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