B.Riley FBR analyst Eric Wold reiterated a Buy rating on TiVo Corporation (TIVO – Research Report) today and set a price target of $18. The company’s shares closed yesterday at $7.35, close to its 52-week low of $6.61.
“We are revisiting PT) given the surprising lack of activity in TIVO shares since the licensing agreements with LG Communications were announced earlier this week. In our opinion, the relatively benign 3.2% move in TIVO shares this week (even vs. a gain of 0.3% for the S&P 500) is a fairly clear indication that investors are now almost entirely focused on the ongoing licensing dispute and litigation with Comcast (CMCSA) with almost a complete disregard for any other improvements in the company’s baseline licensing operations (or proof that other entities see value with TIVO’s IP portfolio and the need to license outside of litigation).”
According to TipRanks.com, Wold is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.7% and a 31.6% success rate. Wold covers the Services sector, focusing on stocks such as Reading International Inc, Cinemark Holdings Inc, and National Cinemedia.
TiVo Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $18.
The company has a one-year high of $14.20 and a one-year low of $6.61. Currently, TiVo Corporation has an average volume of 1.4M.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.