Brean Murray Carret & Co. Maintains a 'Buy' on TiVo (TIVO); Q1 Preview
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 4 | New: 5
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 1 | Down: 4 | New: 5
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Brean Murray Carret & Co. maintains a 'Buy' on TiVo (NASDAQ: TIVO) price target of $14.00.
Analyst, Todd Mitchell, said, "Shares of TIVO have given up over a quarter of their value since the end of March, even though very little has changed fundamentally. We expect continue operating momentum in fiscal 1Q13, with another sequential increase in licensed sub growth. We also believe TiVo will announce other overseas licensing deals, although perhaps not with tomorrow’s call. We attribute the recent weakness in the stock a lack of clear catalysts and limited strategic alternatives versus investors expectations. With its strong balance sheet, its sub base now growing again, and Verizon expected to settle TiVo’s claims, many thought TiVo had entered an ideal window to sell the company. However, a strategic announcement now appears highly unlikely in the near term, and as such, investors should look a value for TIVO of approximately $14 per share for upside."
Mitchell is looking for 677k sub additions for March Qtr and a loss of $0.19.
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 $9.17 yesterday.
Analyst, Todd Mitchell, said, "Shares of TIVO have given up over a quarter of their value since the end of March, even though very little has changed fundamentally. We expect continue operating momentum in fiscal 1Q13, with another sequential increase in licensed sub growth. We also believe TiVo will announce other overseas licensing deals, although perhaps not with tomorrow’s call. We attribute the recent weakness in the stock a lack of clear catalysts and limited strategic alternatives versus investors expectations. With its strong balance sheet, its sub base now growing again, and Verizon expected to settle TiVo’s claims, many thought TiVo had entered an ideal window to sell the company. However, a strategic announcement now appears highly unlikely in the near term, and as such, investors should look a value for TIVO of approximately $14 per share for upside."
Mitchell is looking for 677k sub additions for March Qtr and a loss of $0.19.
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 $9.17 yesterday.
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