Rovi Corp. (ROVI): DISH Deal Could Accelerate Comcast Settlement - B.Riley

August 23, 2016 6:21 AM EDT
Get Alerts ROVI Hot Sheet
Price: $22.42 --0%

Rating Summary:
    9 Buy, 6 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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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.

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 $20.98 yesterday.

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