TiVo Corporation (TIVO) Receives a Buy from B.Riley FBR


B.Riley FBR analyst Eric Wold reiterated a Buy rating on TiVo Corporation (TIVO) today. The company’s shares closed yesterday at $10.97.

Wold said:

“We are revisiting TiVo Corporation (TIVO—Buy, $23 PT) after the company filed a lawsuit on the U.S. in which TIVO asserted another eight patents against Comcast (CMCSA) for alleged infringement. As discussed in our 1/10/19 research note coming back from our meeting with management at CES, we expected TIVO to increasingly focus its patent assertions against Comcast around key features that were advertised to its subscribers and potentially critical to the X1 platform and its attractiveness to potential subscribers vs. the competition. And, in our opinion, the eight patents asserted in this latest lawsuit clearly fit that pattern as they focus on a variety of X1 platform features that allegedly infringe upon TIVO’s patents—including the “X1 AnyRoom DVR”, the “X1 Cloud DVR”, the Xfinity Stream App” and the “Restart” feature.”

According to TipRanks.com, Wold is a 1-star analyst with an average return of -2.1% and a 38.8% 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.

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Based on TiVo Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $22.99 million. In comparison, last year the company had a net profit of $18.44 million.

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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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