Janney Montgomery Scott Maintains a 'Buy' on TiVo (TIVO); Higher Expenses to Weigh; Lowers PT and Estimates

Janney Montgomery Scott maintains a 'Buy' on TiVo (NASDAQ: TIVO) price target lowered to $13.00.

Analyst, Tony Wible, said, "We maintain our rating on TIVO but lower our estimates and fair value as we believe increased expenses related to litigation and a slow pace of deals cloud the path to profitability. Longer term, we expect TIVO will benefit from rising IPTV competition that will lead more MSOs to quickly seek next generation interface technology in a cost effective manner. The rapid pace of change in the MSO landscape should hasten deals in the US and International markets. Furthermore, TIVO's legal victories enhance its ability to monetize its IP, while the massive cash balance provides downside support and reinvestment opportunity."

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 $8.96 yesterday.

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