Lake Street Capital Markets Speculates on Possible Effects of Lenovo Deal on Unwired Planet

In a report published Tuesday, Lake Street Capital Markets analyst Mark Argento reiterated a Buy rating and $5.00 price target on Unwired Planet UPIP. In the report, Lake Street Capital Markets noted, “Unwired Planet announced a 5 year term license and patent sale deal with Lenovo for $100 million in cash last Thursday. Unwired Planet agreed to sell Lenovo 142 patent assets (104 issued and 38 pending) covering 3G and LTE Mobile technologies and granted a license its remaining portfolio.” Unwired Planet closed on Monday at $1.95.