Zacks upgraded shares of TiVo (NASDAQ: TIVO) from a neutral rating to an outperform rating in a research note issued to investors on Tuesday. The firm currently has $16.00 target price on the stock.
Zacks’ analyst wrote, “TiVo reported better-than-expected third quarter 2013 results based on the litigation proceeds from the Verizon settlement and improved subscriber base. Management provided positive guidance for the fourth quarter of 2013. However, the remaining pending patent litigation issues, rising R&D costs, and increasing competition are expected to impact TiVo’s profitability in the short term. Nevertheless, we remain optimistic about the company’s growth potential owing to new partnerships, product launches and international expansion opportunities. Moreover, the successful monetization of patents also ensures a recurring revenue stream for the company over the long term. These compel us to upgrade our recommendation from Neutral to Outperform. We set a price target of $16.00. “
A number of other firms have also recently commented on TIVO. Analysts at Brean Murray reiterated a buy rating on shares of TiVo in a research note to investors on Wednesday, February 6th. They now have a $15.00 price target on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of TiVo in a research note to investors on Friday, December 14th. They set a buy rating and a $15.00 price target on the stock.
Fourteen investment analysts have rated the stock with a buy rating, and one has given a hold rating to the company’s stock. The company has an average rating of buy and an average target price of $14.88.
TiVo traded down 1.40% on Tuesday, hitting $12.66. TiVo has a 52-week low of $7.75 and a 52-week high of $13.49. The stock’s 50-day moving average is currently $12.66. The company has a market cap of $1.568 billion and a price-to-earnings ratio of 86.17.
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