Piper Jaffray Maintains an 'Overweight' on Macrovision (MVSN); Raises Price Target
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Piper Jaffray & Co. maintains an Overweight rating on Macrovision (Nasdaq: MVSN), raises price target from $23 to $30.
Piper analyst says, "We are increasingly confident that Macrovision will see upside to Street numbers in CY09 driven primarily from growth in IPG subs in Europe. MVSN announced a deal with CANAL+ with 5m IPG subs. Macrovision currently has ~21m-22m of ~90m digital subs in Europe; with the additional 5m subs from CANAL+ and additional deals, we believe it is likely MVSN will reach about 28m subs in Europe by the end of CY09. Our analysis of Macrovision's opportunity for growth in IPG revenue based on new digital subs in Europe shows the category could add $0.07 to EPS in '09 and $0.21 in '10. We are at $1.38, the Street is at $1.37; if this sensitivity plays out, we think $1.45 is doable."
To see more analyst ratings on MVSN Click Here.
Macrovision Solutions Corporation provides a set of solutions that enable businesses to protect, enable and distribute their digital goods to consumers and allows consumers the ability to discover and manage digital media across multiple channels.
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