Brean Murray Carret & Co. Maintains a 'Buy' on Rovi Corp. (ROVI); Suggest Staying The Course
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Price: $24.73 -0.72%
Rating Summary:
5 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
5 Buy, 8 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade ROVI Now!
Brean Murray Carret & Co. maintains a 'Buy' on Rovi Corp. (NASDAQ: ROVI) price target of $41.00.
Analyst, Todd Mitchell, said, "We would stay the course, as patience is likely to be rewarded. After a constructive reset with a strong showing at CES, Rovi veered off message and the shares have suffered. First, an aggressive debt raise brought on the specter of M&A, and now the surprise resignation of the CFO. Rovi is a bit of a black box and results in the near-term will continue to be challenged. However, we believe underlying business trends are on the mend and look for Rovi to end 2012 with strong momentum."
"We are trimming our 2012 revenue estimate to $760 million from $770 million, but maintaining our 2012 EPS estimate of $2.50 and our 2013 EPS estimate of $3.00."
For an analyst ratings summary and ratings history on Rovi Corp. click here. For more ratings news on Rovi Corp. click here.
Shares of Rovi Corp. closed at $28.25 yesterday, with a 52 week range of $23.20-$60.84.
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Analyst, Todd Mitchell, said, "We would stay the course, as patience is likely to be rewarded. After a constructive reset with a strong showing at CES, Rovi veered off message and the shares have suffered. First, an aggressive debt raise brought on the specter of M&A, and now the surprise resignation of the CFO. Rovi is a bit of a black box and results in the near-term will continue to be challenged. However, we believe underlying business trends are on the mend and look for Rovi to end 2012 with strong momentum."
"We are trimming our 2012 revenue estimate to $760 million from $770 million, but maintaining our 2012 EPS estimate of $2.50 and our 2013 EPS estimate of $3.00."
For an analyst ratings summary and ratings history on Rovi Corp. click here. For more ratings news on Rovi Corp. click here.
Shares of Rovi Corp. closed at $28.25 yesterday, with a 52 week range of $23.20-$60.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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