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Re: Barclays Capital Report ... 

By: Rakitno in IDCC | Recommend this post (1)
Sat, 28 Jul 12 9:09 PM | 294 view(s)
Boardmark this board | InterDigital Communications
Msg. 45727 of 48237
(This msg. is a reply to 45726 by postyle)

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I have a hard time accepting the Sum of the Parts calc for Barclay's. If they are going to attach probabilities to revenue streams from potential licenses in fiscal 2013, then why do they refuse to apply probabilities to the planned sale of patents? The Company has identified this as a recurring revenue stream based upon their new strategy. Furthermore, they do not include the Intel sale in their Q3 analysis. If Barclay's want to ignore one time sales (which the Company identifies as a recurring stream going forward with their new strategy), in their revenue analysis why do they not treat the elevated legal expenses the same as they extrapolate these current elevated legal expenses from this year into fiscal 2013 resulting in a lower target price which affects their Price Target. This report is an example of an excel spreadsheet assignment completed without the assistance of a brain.


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The above is a reply to the following message:
New analyst reports: MPartners, Davenport, Barclays Capital
By: postyle
in IDCC
Sat, 28 Jul 12 8:49 PM
Msg. 45726 of 48237

The following reports are now available at WirelessLedger.com:

MPartners Report (7/26/2012):
"Q2'12 Earnings Report" - http://wirelessledger.com/Mpartners_morning_note_2012_7_26.pdf
Price Target $45 unchanged

Davenport & Co. Report (7/26/2012):
"Lower 2Q Results on Higher Expenses; Renewal Risk Keeps Us at Neutral" - http://wirelessledger.com/Davenport_report_2012_7_26.pdf
Maintains Neutral rating with No Price Target

Barclays Capital Report (7/26/2012):
"Per Unit Weak; IP Monetization Still a Focus" - http://wirelessledger.com/Barclays_report_2012_7_26.pdf
Price Target $28, lowered from $32


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