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 $13.30, close to its 52-week low of $12.25.
Wold said:
“We believe the focus around TIVO shares remains on the strategic review process with management confirming that an update will be provided on/before the 2Q18 conference call in the coming weeks. We continue to believe that a sale of the company to either a financial or strategic buyer would be difficult at any valuation around these levels given the potential for significant stock appreciation on a Comcast settlement/license (i.e., the Board would not want to give up that upside and a buyer would not want to pay a premium for that unknown situation).”
According to TipRanks.com, Wold is a 4-star analyst with an average return of 7.9% and a 57.5% 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 $19.
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The company has a one-year high of $20.18 and a one-year low of $12.25. Currently, TiVo Corporation has an average volume of 872.6K.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TIVO in relation to earlier this year.
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TiVo Corp. provides entertainment technology, software, and services. It operates through two segments: Intellectual Property Licensing and Product.
