Feltl and Company Reiterates Buy On Immersion Shares, $12 PT
In a research report issued today, Feltl and Company analyst Jeffrey Schreiner reiterated a Buy rating on Immersion (NASDAQ:IMMR) with a price target of $12.00.
Schreiner said, “We believe within IMMR comps CEVA offers the most direct comparable, which currently trades at ~30x CY15 estimates. In comparison to CEVA, and average comps, we believe IMMR offers more consistent, and in most cases higher growth than comps or CEVA. Our valuation assumes a roughly 27x forward P/E multiple, a discount to CEVA, but what we believe is a warranted premium to comp average, and in-line with average growth expectations for CY14/15 non-GAAP EPS. We recommend investors utilize recent weakness as an opportunity to add to IMMR positions. September 23, 2014 “
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jeffrey Schreiner has a total average return of -4.8% and a 33.3% success rate. Schreiner has a -17.0% average return when recommending IMMR, and is ranked #3118 out of 3295 analysts.