Stifel analyst Rick Wise raised the firm’s price target on Masimo (MASI) to $170 from $164 and keeps a Buy rating on the shares after the International Trade Commission ruled in Masimo’s favor in its patent dispute with Apple (AAPL). This is "the first of three critical steps toward final dispute resolution," said Wise, who notes the fight could result in a potential Apple Watch importation ban if Masimo succeeds. While acknowledging "there are clearly still multiple steps ahead until final resolution," he views the decision as favorable for Masimo’s litigation strategy. The next step will involve a final ITC view, where the ITC commissioners need to vote for or against the "final-initial" determination, and this decision is expected by May 10, said Wise.
Published first on TheFly
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