Acacia Research Corporation (ACTG) Maintains A Buy Rating
February 08, 2010 2:55 PM
Analysts Mark Argento and Matt Bendixen at Craig-Hallum Capital Group LLC have maintained a Buy rating for Acacia Research Corporation (NASDAQ: ATCG). Analysts have also maintained the price target of $13 for the Acacia stock.
According to analysts, the company’s stock traded down to near $8 last week, which was a much steeper decline than the broad market. Analysts believe that this is a good opportunity to buy the stock, especially as the company is coming out with big wins.
According to analysts, the company’s business model is starting to prove itself as it is starting do more and bigger deals with large technology companies.
Analysts expect the company to report revenue of $15 million in the fourth-quarter. According to analysts, a lot of value that Acacia Research Corporation has been creating will be reflected in its financial statements in 18-24 months.
