Brean Murray Carret & Co. Maintains a 'Buy' on Rovi Corp. (ROVI); Having Some Faith

June 18, 2012 10:15 AM EDT Send to a Friend
Get Alerts ROVI Hot Sheet
Price: $22.58 +0.98%

Rating Summary:
    6 Buy, 9 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 12 | New: 23
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Brean Murray Carret & Co. maintains a 'Buy' on Rovi Corp. (NASDAQ: ROVI) price target of $33.00 (from $41.00)

Analyst, Todd Mitchell, said, "Investors have all but bailed on Rovi following a series of resets and miscues from the company. Most recently, Rovi's new CFO tempered expectations for 'Total Guide CE' and the Rovi Entertainment Store (RES)...We still see Rovi hitting the midpoint of its 2012 EPS guidance and generating 20% EPS growth in 2013. Unfortunately, credibility is at a minimum and ROVI is trading at a hefty discount to EPS growth as a result. While lacking a near-term catalyst, we think the sell-off is overdone and believe the shares will firm with a return to revenue and EPS growth in 2H12 with momentum building late in 2012 with a stronger outlook in 2013."

FY12 EPS estimate cut from $2.50 to $2.45 and FY13 from $3.00 to $2.95.

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 $21.14 yesterday.


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