TiVo (TIVO) Settlement Details Remain Undisclosed; Is Something Else Afoot?
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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Shares of TiVo (NASDAQ: TIVO) surged higher into the close Thursday on reports the company settled its patent infringement case with Google/Motorola (NASDAQ: GOOG). While a Motorola spokesman confirmed the settlement, TiVo is not saying anything. This has has added to speculation.
This morning Janney Capital analyst Tony Wible wonders if another surprise is coming.
"We note that it is odd that we do not have more detail, which leads us to believe this could be a more abstract deal," he said. "In the past we have suggested that GOOG should buy TIVO as an alternative to settlement."
Even without a takeover, the settlement should be positive for TiVo shares, the analyst believes.
"We have been expecting this but do not believe the full potential from this settlement was discounted into TIVO's stock (i.e. we should see a big move in the stock today)," he comments. "While we do not have any details, we believe this has the potential to be the largest settlement TIVO has recorded to date."
For now the analyst is maintaining his $16 price target until details of the settlement are revealed.
For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.
After rising 8.3% intra-day Thursday, shares of Tivo are up another 4.4% in pre-open trade.
This morning Janney Capital analyst Tony Wible wonders if another surprise is coming.
"We note that it is odd that we do not have more detail, which leads us to believe this could be a more abstract deal," he said. "In the past we have suggested that GOOG should buy TIVO as an alternative to settlement."
Even without a takeover, the settlement should be positive for TiVo shares, the analyst believes.
"We have been expecting this but do not believe the full potential from this settlement was discounted into TIVO's stock (i.e. we should see a big move in the stock today)," he comments. "While we do not have any details, we believe this has the potential to be the largest settlement TIVO has recorded to date."
For now the analyst is maintaining his $16 price target until details of the settlement are revealed.
For an analyst ratings summary and ratings history on TiVo click here. For more ratings news on TiVo click here.
After rising 8.3% intra-day Thursday, shares of Tivo are up another 4.4% in pre-open trade.
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