Brean Murray Carret & Co. Maintains a 'Buy' on TiVo (TIVO); Q2 Review; Litigation Outlook
Tweet Send to a FriendGet Alerts TIVO Hot Sheet
Price: $12.92 +2.05%
Rating Summary:
15 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
15 Buy, 4 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade TIVO Now!
Brean Murray Carret & Co. maintains a 'Buy' on TiVo (NASDAQ: TIVO) price target of $14.00.
Analyst, Todd Mitchell, said, "TiVo reported 230K net adds, and financial results were in line with guidance and our estimates...We are maintaining our fiscal 2013 net add forecast of just over one million for now, but see risk in a later-than-expected Charter (Nasdaq: CHTR)(not-covered) rollout. Mix will shift, but heavy R&D and higher legal expenses mean operating losses should stay relatively similar in the second half of the year despite higher expected revenue. TiVo is executing well and it should become more apparent in FY14."
"Investors can take heart that value is being created, but the bull case for the stock remains the litigation calendar, with Verizon (NYSE: VZ) going to trial in October, followed by Motorola (Nasdaq: GOOG) in the Spring and Cisco (Nasdaq: CSCO) in the fall. Total claims in these cases are believed to be in excess of $1 billion."
FY13 EPS estimate lowered from (0.79) to (0.84), but FY14 raised from (0.13) to (0.10).
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 $9.36 yesterday, with a 52 week range of $7.75-$12.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Todd Mitchell, said, "TiVo reported 230K net adds, and financial results were in line with guidance and our estimates...We are maintaining our fiscal 2013 net add forecast of just over one million for now, but see risk in a later-than-expected Charter (Nasdaq: CHTR)(not-covered) rollout. Mix will shift, but heavy R&D and higher legal expenses mean operating losses should stay relatively similar in the second half of the year despite higher expected revenue. TiVo is executing well and it should become more apparent in FY14."
"Investors can take heart that value is being created, but the bull case for the stock remains the litigation calendar, with Verizon (NYSE: VZ) going to trial in October, followed by Motorola (Nasdaq: GOOG) in the Spring and Cisco (Nasdaq: CSCO) in the fall. Total claims in these cases are believed to be in excess of $1 billion."
FY13 EPS estimate lowered from (0.79) to (0.84), but FY14 raised from (0.13) to (0.10).
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 $9.36 yesterday, with a 52 week range of $7.75-$12.37.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Boosts Price Target on TiVo (TIVO)
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- UPDATE: Sterne Agee Downgrades Beazer Homes (BZH) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Brean Murray Carret & Co., Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
