In a company update published earlier today, Brean Murray, Carret & Co. reiterated its Buy rating for Rovi Corporation ROVI, but lowered its price target from $41.00 to $33.00.
Brean Murray went on to say “We still see Rovi hitting the midpoint of its 2012 EPS guidance and generating 20% EPS growth in 2013. Unfortunately credibility is at a minimum and ROVI is trading at a hefty discount to EPS growth as a result. While lacking a clear near‐term catalyst, we think the sell‐off is overdone and believe the shares will firm with a return to revenue and EPS growth in 2H12, with momentum building late in 2012 with a stronger outlook for 2013.”
Rovi Corporation closed on Friday at $21.14.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in