B. Riley analyst, Eric Wold, thinks this could be a pivotal quarter for Rovi Corp. (NASDAQ: ROVI) as the recent Verizon (VZ; N/R) license renewal not only de-risked 2016 guidance, but also provided a bias for upside to Q2 results vs. consensus. More importantly, the VZ renewal represented the end of an era when ROVI has been considered an adverse binary event story – valuation multiples should more accurately reflect this reduced risk profile. He believes investors can consider each of the upcoming catalysts – acquisition of TiVo (NASDAQ: TIVO), license renewals with DISH/EchoStar (NASDAQ: DISH) and Comcast (NASDAQ: CMCSA), and the appeal against Netflix (NASDAQ: NFLX) – as upside-only scenarios from current baseline trends without any risk of negatively impacting those trends.

No change to Buy rating or price target of $29.

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Shares of Rovi Corp. closed at $17.33 yesterday.