Brean Capital Increases TiVo Price Target to $15.00 (TIVO)
Equities research analysts at Brean Capital lifted their target price on shares of TiVo (NASDAQ:TIVO) from $14.00 to $15.00 in a research note issued to investors on Tuesday, AmericanBankingNews.com reports. The firm currently has a “buy” rating on the stock. Brean Capital’s price objective would indicate a potential upside of 15.21% from the company’s current price.
The analysts wrote, “We look for TiVo to end F14 on a solid note operationally, with strong net add trends, growing Service & Technology revenue, and a well-capitalized balance sheet, even after the company’s purchase of Digitalsmiths and completion of an expected $100 million buyback. We believe that TiVo offers potential MSO customers a strong proposition, as an outsourced Xfinity with a SAAS business model. TiVo has suffered from a dearth of new distribution announcements recently, which we would attribute to M&A distractions for new potential customers both in the U.S. and abroad. “We think TiVo’s prospects as an integrated solution for Charter and Liberty Global have dimmed. However, we believe TiVo’s business model is evolving and it is still engaged with both MSO, and now others, as a potential component technology supplier, and that it is in the advanced stages of open RFP with MSO in Europe and Latin America for integrated solutions, and that new deal flow will pick up in 2014. As a result, we are raising our price target to $15 from $14 and we reiterate our Buy rating.”
Shares of TiVo (NASDAQ:TIVO) traded up 1.15% during mid-day trading on Tuesday, hitting $13.17. 1,529,909 shares of the company’s stock traded hands. TiVo has a one year low of $10.47 and a one year high of $14.25. The stock’s 50-day moving average is $12.64 and its 200-day moving average is $12.55. The company has a market cap of $1.606 billion and a price-to-earnings ratio of 6.60.
Several other analysts have also recently commented on the stock. Analysts at Stephens initiated coverage on shares of TiVo in a research note on Tuesday, January 28th. They set an “equal weight” rating on the stock. Separately, analysts at Goldman Sachs downgraded shares of TiVo from a “buy” rating to a “neutral” rating in a research note on Monday, January 13th. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of TiVo in a research note on Wednesday, November 27th. They now have a $16.00 price target on the stock, up previously from $15.00. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $21.46.
TiVo Inc (NASDAQ:TIVO) a developer and provider of software and technology that enables the search, navigation, and access of content across sources, including linear television, on-demand television, and broadband video.
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