Feltl Maintains Buy On Immersion Corporation Amid Potential Partnership With Apple
In a research note issued today, Feltl and Company analyst Jeffrey Schreiner maintained a Buy rating on Immersion Corporation (IMMR) with a price target of $13.00 following a potential partnership between IMMR and Apple on manufacturing the upcoming iPhone 6.
Schreiner noted, “Potential license with AAPL for use of haptics in its iPhone6/iPad offers investors a potential call option, in our opinion, which could generate as much as ~$3/share in upside. We believe with both near-term and longer-term growth catalysts, and potential call option relating to AAPL, investors should be accumulating shares of IMMR as we see current valuation understating potential opportunities”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Jeffrey Schreiner currently has a one-year average return of 4.7 and a 59% success rate. Schreiner has a 1% average profit recommending IMMR, and he is ranked #1123 out of 3137 analysts.