TiVo (TIVO) ITC Win Raises Chance of Comcast (CMCSA) Renewal - Piper Jaffray
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Piper Jaffray analyst Michael Olson reiterated an Overweight rating and $25 price target on TiVo (NASDAQ: TIVO) after the ITC ruled in favor of TiVo, indicates a violation of section 337 with respect to two patents that TiVo argued had been violated by Comcast, Arris and Technicolor.
Olson believes the legal victory this increases the likelihood that a deal with Comcast (NASDAQ: CMCSA) will be reached.
"Also, with DISH, AT&T and others signed, we have a high degree of confidence in TiVo successfully renewing with Comcast, but do not have it built into our estimates until early '18," Olson commented, "Additionally, we see a multi-year incremental revenue opportunity in the upsell of service providers from legacy Rovi guides to higher ASP TiVo guides, as well as international (primarily Europe and Canada) guide licensing opportunities."
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 $17.65 yesterday.
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