Rovi Corp. (ROVI): DISH Deal Could Accelerate Comcast Settlement - B.Riley
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B. Riley analyst, Eric Wold, reiterated his Buy rating on shares of Rovi Corp. (NASDAQ: ROVI) after the company announced a 10-year license renewal with DISH Network (NASDAQ: DISH) for the pre-paid license that expired in April.
The analyst stated "Not only does this remove one more lingering investor renewal concern centering on the validity/value of ROVI’s IP, but this (in combination with the acquisition of TiVo) should drive a sizable guidance boost on the Q3 earnings call. We also believe this should provide ROVI with a positive tailwind into the ITC hearing against Comcast (NASDAQ: CMCSA) in December and could help drive an earlier settlement/license.
No change to the price target of $31.
Shares of Rovi Corp. closed at $20.98 yesterday.
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