BTIG keeps a Buy rating on Masimo (MASI) with a $150 price target after the International Trade Commission determined that Apple (AAPL) violated claims 22 and 28 of the company’s ‘502 patent and claims 12, 24, and 30 of the ‘648 patent. As a result, the commission issued a limited exclusion order and a cease and desist order against Apple, the analyst tells investors in a research note. The firm says this is a “significant win” for Masimo and perhaps one that could position the company more favorably at the negotiation table for potential settlements. There remains upside potential for the stock for settlements, royalty payments, or other monetary-based agreements, contends BTIG. The stock in premarket trading is up 8% to $87.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MASI:
- Will Apple’s (NASDAQ:AAPL) Watch Sales Come Under Pressure?
- Masimo confirms ITC’s exclusion order for infringing Apple Watches on its patent
- U.S federal trade agency finds Apple in violation of Masimo patent, WSJ says
- MASI Upcoming Earnings Report: What to Expect?
- Masimo call volume above normal and directionally bullish