UPDATE: Maxim Group Upgrades Vringo to Buy on Search Patent Validity Outlook

Maxim Group raised its rating on Vringo VRNG from Not Rated to Buy with a newly established $6.50 price target per share. Maxim Group noted, "VRNG is an emerging software company with a limited track record and considerable downside if it loses its patent lawsuit against Google (GOOG, $642.82, NR). However, yesterday morning's announcement of a settlement with AOL (AOL, $33.83, NR) on the standalone Advertising.com lawsuit offers confirmation that there is validity to the Vringo/Innovate Protect search patents, in our opinion." Vringo closed at $3.58 on Monday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorUpgradesPrice TargetIntraday UpdateAnalyst RatingsMaxim Group
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!