Pixelworks price target raised to $4 from $3 at Craig-Hallum

Craig-Hallum analyst Richard Shannon raised the firm’s price target on Pixelworks (PXLW) to $4 from $3 and keeps a Buy rating on the shares. The company’s announcement that Disney (DIS) has licensed TrueCut is a watershed moment in the 5-plus year process of bringing this product to market, the firm says. Craig-Hallum finds the PR phrasing about Disney bringing “a collection of titles” to “select home entertainment devices” for “elevated viewing experiences” to be intriguing. Given recent announcements by Disney about making dozens of titles available on Apple’s (AAPL) Vision Pro, including TrueCut-enabled Avatar: Way of Water, it suggests this is one such direction. Given that these titles go live on February 2nd, the firm doesn’t believe “we have to wait too long for more news flow.”