TiVo (TIVO) Price Target Raised to $18.50 at National Alliance

National Alliance Securities reiterated a Buy rating on TiVo (NASDAQ: TIVO) and raised its price target to $18.50 (from $17.50). Comments follow Q2 results.

Analyst Brian Coyne said, "In our view, TiVo is transitioning – in terms of its business model and Wall Street’s perception/valuation – from a retail-oriented DVR provider to a scalable software play, addressing a large market which it’s well-positioned to serve. Its FQ2 (July) 2014 results reflected continued progress in this transition, with in-line sub growth at international Tier 1 MSOs and mid-sized domestic cable operators along with strong (though very early) growth in its video discovery platform. We expect the shares’ valuation to expand as management executes on its plan and investors reassess the company and its improving cash flow profile."

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 $13.90 yesterday.

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