Janney Stamps TIVO (TIVO) with $15 Price Target

November 29, 2012 10:52 AM EST
Get Alerts TIVO Hot Sheet
Price: $20.10 --0%

Rating Summary:
    12 Buy, 15 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Yesterday TIVO (NASDAQ: TIVO) reported a surprise Q3 profit of 44 cents, topping estimates. Commenting on the results, analyst Tony Wible of Janney Capital attributed the beat to MSO sub growth, MSO ARPU, cost controls, hardware demand, and retail churn.

"We maintain our BUY rating on TIVO, as we believe it will benefit from the increasingly competitive video landscape and the growing demand for advanced technology on a cost effective basis," said Wible.

He thinks the rapid pace of change in the MSO landscape should hasten deals in the US and International markets.

TIVO also stands to benefit from legal victories which could total billions.

Janney reiterated a Buy rating on TiVo (NASDAQ: TIVO) and raised its price target to $15.00.

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 $10.85 yesterday.

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