Brean Murray Carret & Co. Starts TiVo (TIVO) at Buy
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Brean Murray Carret & Co. initiates coverage on TiVo (NASDAQ: TIVO) with a Buy. PT $14.00.
The firm comments, "TiVo is a leading supplier of digital video recorders (DVR) and related technology. We are recommending TiVo because 1) we believe it is well positioned to grow its licensed DVR business over the next couple of years; 2) we see TiVo’s settlement with DISH and transition to net subscriber gains as an inflection point for the company operationally; and 3) we think litigation with AT&T and Verizon offers potential for a near-term catalyst in the form of a settlement with one, or both, parties."
They also note that shares have rebounded since Q2 results and the Google/Motorola deal highlighted potential value of TiVo IP. They said this makes them somewhat concerned about near-term volatility, but we still see potential upside to current levels over the next year for the above reasons.
For more ratings news on TiVo click here and for the rating history of TiVo click here.
Shares of TiVo closed at $10.70 yesterday.
The firm comments, "TiVo is a leading supplier of digital video recorders (DVR) and related technology. We are recommending TiVo because 1) we believe it is well positioned to grow its licensed DVR business over the next couple of years; 2) we see TiVo’s settlement with DISH and transition to net subscriber gains as an inflection point for the company operationally; and 3) we think litigation with AT&T and Verizon offers potential for a near-term catalyst in the form of a settlement with one, or both, parties."
They also note that shares have rebounded since Q2 results and the Google/Motorola deal highlighted potential value of TiVo IP. They said this makes them somewhat concerned about near-term volatility, but we still see potential upside to current levels over the next year for the above reasons.
For more ratings news on TiVo click here and for the rating history of TiVo click here.
Shares of TiVo closed at $10.70 yesterday.
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