J.P. Morgan Lowers PT On TiVo

According to a recent report, J.P. Morgan has lowered the price target on Tivo (NASDAQ; TIVO) from $20.00 to $14.00 and reiterated an Overweight rating on the company due to a lower-than-expected settlement with DISH.

In the report, J.P. Morgan said, "TiVo is trading at a significant discount to our DCF valuation. Given our confidence in TiVo's ability to sign new MSO distribution deals, we think this discount is unjustified and reiterate our Overweight rating."

TiVo closed yesterday at $9.41.