B.Riley FBR Reaffirms Their Buy Rating on TiVo Corporation

In a report released today, Eric Wold from B.Riley FBR reiterated a Buy rating on TiVo Corporation (NASDAQ: TIVO), with a price target of $19. The company’s shares closed yesterday at $14.05.

Wold noted:

“After the close on Corporation (TIVO) reported 1Q18 results that came in below our/consensus expectations and were significantly impacted by the implementation of ASC 606. While we acknowledge results were disappointing during the company’s post-merger transition and continued licensing dispute with Comcast, we believe TIVO’s core licensing revenues remain solid and represent an attractive baseline from which post-merger revenue synergies and new licensing agreements (Comcast, mobile, OTT, international) can build upon. While we are lowering our 2018/2019 estimates significantly (mainly due to the impact of ASC 606), we remain positive on upside value for TIVO shares either as a standalone entity or as an acquisition target (given an ongoing strategic review process).”

According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.3% and a 55.5% success rate. Wold covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

TiVo Corporation has an analyst consensus of Strong Buy, with a price target consensus of $22.67.

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The company has a one-year high of $20.18 and a one-year low of $12.75. Currently, TiVo Corporation has an average volume of 1.05M.

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

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