Immersion initiated with a Buy at BWS Financial

BWS Financial analyst Hamed Khorsand initiated coverage of Immersion with a Buy rating and $11 price target. The haptics technology developer’s management change "could further result in a series of material developments," said the firm, which thinks naming Eric Singer as its CEO "suggests there is more to come" from the company its previously announced cost cuts. Haptics within automobiles should begin to ramp with 2024 models introduced in late 2023, which creates a new revenue stream for Immersion, the firm added.