Craig-Hallum reiterated a Buy rating and $7 price target on Acacia Research (ACTG) after the company reported quarterly results. The firm continues to believe Acacia offers investors a relatively safe harbor in the market as it is trading below its adjusted book value per share off $5.79, is generating solid revenues from its oil and gas investment, and expects accretion from its recent acquisition of Deflecto. Craig-Hallum added that it believes investors can continue to find safety in Acacia as it continues to monetize its Wi-FI 6 portfolio, generate strong cash flow from the oil and gas expansion, and generative positive EBITDA from the Deflecto deal.
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Read More on ACTG:
- Acacia Research reports Q3 EPS (14c), consensus 1c
- ACTG Earnings this Week: How Will it Perform?
- Acacia Research Expands Portfolio with Deflecto Acquisition
- Acacia Research acquires Deflecto Acquisition for $103.7M
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