Brean Murray Carret & Co. Upgrades Rovi Corp. (ROVI) to Buy; Strong Showing at CES
ROVI Hot Sheet
Rating Summary:7 Buy, 3 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Brean Murray Carret & Co. upgraded Rovi Corp. (NASDAQ: ROVI) from Hold to Buy with a price target of $41.00.
Brean analyst says, "Shares saw solid gains last week after Rovi 1) affirmed 2011 guidance for $828 million and non-GAAP EPS of $2.48, 2) gave guidance for 2012 of $810-to-$860 million (up 6% at the midpoint) and $2.50-to-$2.80 (up 7%), and 3) announced the sale of its Roxio consumer software business. We are updating our estimates to reflect guidance. We believe the strong rebound in the shares does not reflect a change in fundamentals, which still look lethargic until 2H12, so much as it signals a change in sentiment indicating that investors can begin to be more constructive."
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 $30.39 yesterday, with a 52 week range of $23.20-$69.50.
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Brean analyst says, "Shares saw solid gains last week after Rovi 1) affirmed 2011 guidance for $828 million and non-GAAP EPS of $2.48, 2) gave guidance for 2012 of $810-to-$860 million (up 6% at the midpoint) and $2.50-to-$2.80 (up 7%), and 3) announced the sale of its Roxio consumer software business. We are updating our estimates to reflect guidance. We believe the strong rebound in the shares does not reflect a change in fundamentals, which still look lethargic until 2H12, so much as it signals a change in sentiment indicating that investors can begin to be more constructive."
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 $30.39 yesterday, with a 52 week range of $23.20-$69.50.
Discover Wall Street's best ratings calls with the pros - Upgrade to Ratings Insider Elite. Free Trial!
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