UPDATE: M Partners Reiterates Buy Rating, Raises PT on InterDigital on Strong Q4'12 Earnings

In a report published Wednesday, M Partners reiterated its Buy rating on InterDigital IDCC, and raised its price target from $51.00 to $53.00. M Partners noted, “A conference call was held on Thursday February 21st, and the company filed its 10-K report yesterday. After record Q3'12 earnings, driven by the windfall from the sale of patents for approximately $375M, we anticipate a very weak earnings quarter for Q4'12. The company beat our expectation by recognizing past infringement revenue associated with a new licensee.” InterDigital closed on Tuesday at $44.81.