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Brean Murray Carret & Co. Maintains a 'Buy' on TiVo (TIVO); Bulking Up with Acquisition of TRA

July 17, 2012 8:03 AM EDT
Get Alerts TIVO Hot Sheet
Price: $6.09 --0%

Rating Summary:
    10 Buy, 11 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 10
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Brean Murray Carret & Co. maintains a 'Buy' on TiVo (NASDAQ: TIVO) price target of $14.00.

Analyst, Todd Mitchell, said, "Last night, it was reported that TiVo would buy TRA for an estimated $20 million..We believe the acquisition of TRA will bulk up TiVo’s measurement and analytics offering for advertisers, and with TiVo’s recent deal with PayPal (Nasdaq: EBAY), positions TiVo well to capitalize on emerging T-Commerce trends, highlighting TiVo’s ability to capture ancillary revenue streams from its growing subscriber base."

Mitchell thinks the recent pullback offers a buying opportunity, saying shares have underperformed, but there's been an overall improvement in fundamentals. Despite Cisco's (Nasdaq: CSCO) acquisition of NDS, and legal woes with Verizon (NYSE: VZ), Motorola (Nasdaq: GOOG), and Time Warner Cable (NYSE: TWC), the international expansion deal with Charter (Nasdaq: CHTR) should provide a n-t catalyst.

For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.

Shares of TiVo closed at $7.93 yesterday.


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