B.Riley FBR Thinks TiVo Corporation’s Stock is Going to Recover

B.Riley FBR analyst Eric Wold reiterated a Buy rating on TiVo Corporation (TIVOResearch Report) today and set a price target of $18. The company’s shares closed yesterday at $6.78, close to its 52-week low of $6.61.

Wold said:

“We are revisiting TiVo Corporation (TIVO) following the investor lunch we hosted with TIVO management in Wednesday, 6/12. the lunch as well as our separate meeting with management, we are confident in our stance that TIVO’s current valuation reflects absolutely zero probability of either an eventual Comcast settlement and/or a positive outcome from the strategic review and ongoing buyer discussions—even though, we believe, the momentum for one or both of those coming to fruition remains on TIVO’s side. While some investors may choose to wait for more visibility into one of those catalysts, we recommend buying on this side of those catalysts—and reiterate our Buy rating and $18 PT.”

According to TipRanks.com, Wold is ranked 0 out of 5 stars with an average return of -7.4% and a 29.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TiVo Corporation with a $18 average price target.

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Based on TiVo Corporation’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $26.64 million. In comparison, last year the company had a GAAP net loss of $19.01 million.

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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.