Straight Path Communications Inc (NYSEMKT:STRP) Enters into License Agreements with Google Inc (NASDAQ:GOOG) and Sony Corp (ADR)(NYSE:SNE)

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Straight Path Communications Inc (NYSEMKT:STRP) disclosed last night in a regulatory filing that on April 23 its subsidiary entered into a confidential license agreement with Google Inc (NASDAQ:GOOG), which, among other things, provides for licensing of all SPIPG’s patents and the dismissal of the parties claims in the International Trade Commission investigation in the matter of Certain Point-to-Point Network Communication Devices and Products Containing Same related to certain Google products.

Also on April 23, SPIPG entered into a settlement and patent license agreement with Sony Corp (ADR)(NYSE:SNE), which, among other things, provides for the licensing of all SPIPG’s patents and dismissal of all claims against the Sony parties in the Investigation. The terms of the agreements are confidential, the company stated.

Analysts have a consensus price target of $923 on Google, Inc.(NASDAQ:GOOGL) which indicates a 76% upside. The consensus rating of the stock is a BUY with a score of 2.81. There are currently 5 Hold Ratings and 21 Buy ratings on the stock.

The most recent analyst action consisted of Jeffries boosting their price target from $650 to $700 on April 15th.

 

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