Brean Murray Carret & Co. Maintains a 'Buy' on TiVo (TIVO); Q2 Preview: Operations Gaining Traction, Litigation the Key
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Brean Murray Carret & Co. maintains a 'Buy' on TiVo (NASDAQ: TIVO) price target of $14.00.
Analyst, Todd Mitchell, said, "We are projecting 233,000 net adds, a 9% increase in revenue, and a doubling of operating losses due to higher R&D and legal expenses. R&D has been spent well and TiVo is fielding a state-of-the-art platform for MSO wishing to deploy TV Everywhere, while legal is ramping ahead of three cases which could result in awards in excess of $1 billion. Verizon (NYSE: VZ) goes to trial in October, followed by Motorola in Spring, and Cisco (Nasdaq: CSCO) the following Fall. Meanwhile, favorable comments from Charter point to a path to over 10 million subs. TiVo has focused on the value-added component of the CPE ecosystem and is moving away from the hardware business. With Google (Nasdaq: GOOG) putting Motorola’s CPE business on the block, TiVo’s strong offering and its large cash reserves position it well to capture market share."
Sees a Q2 loss of (0.17) vs. consensus for (0.24). TIVO is expected to report Q2 earnings on Wednesday, August 29th after the close.
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 $9.35 yesterday.
Analyst, Todd Mitchell, said, "We are projecting 233,000 net adds, a 9% increase in revenue, and a doubling of operating losses due to higher R&D and legal expenses. R&D has been spent well and TiVo is fielding a state-of-the-art platform for MSO wishing to deploy TV Everywhere, while legal is ramping ahead of three cases which could result in awards in excess of $1 billion. Verizon (NYSE: VZ) goes to trial in October, followed by Motorola in Spring, and Cisco (Nasdaq: CSCO) the following Fall. Meanwhile, favorable comments from Charter point to a path to over 10 million subs. TiVo has focused on the value-added component of the CPE ecosystem and is moving away from the hardware business. With Google (Nasdaq: GOOG) putting Motorola’s CPE business on the block, TiVo’s strong offering and its large cash reserves position it well to capture market share."
Sees a Q2 loss of (0.17) vs. consensus for (0.24). TIVO is expected to report Q2 earnings on Wednesday, August 29th after the close.
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 $9.35 yesterday.
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