Market Overview

UPDATE: Brean Murray Reiterates Buy Rating, Lowers PT on Rovi Corporation

Related ROVI
Rovi Set to Unveil New Technologies and Customer Announcements at CES 2015
Top 4 NASDAQ Stocks In The Multimedia & Graphics Software Industry With The Highest Operating Margin
After Hour Gainers / Losers (Seeking Alpha)

In a report published Wednesday, Brean Murray, Carret & Co. reiterated its Buy rating on Rovi Corporation (NASDAQ: ROVI), but lowered its price target from $33.00 to $17.00.

Brean Murray noted, “Rovi has been a slow moving train wreck since the acquisition of Sonic Solutions with two major resets in less than a year. To their credit, investors recognized the pattern of mis‐representation from prior management and have been abandoning the company at an accelerated pace on the hunch that this sort of thing would occur. We are a cutting our price target on ROVI to $17 from $33, which is based on 10.0x 2012 EPS. We continue to believe there is value in Rovi's core licensing business and management has set the bar low. Vacillations in sentiment have outweighed changes in underlying valuations and we believe the stock is oversold as a result.”

Rovi Corporation closed on Tuesday at $17.65.

Latest Ratings for ROVI

Nov 2014Brean CapitalMaintainsBuy
Jul 2014JP MorganMaintainsNeutral
Feb 2014Brean CapitalMaintainsBuy

View More Analyst Ratings for ROVI
View the Latest Analyst Ratings

Posted-In: Brean Murray Carret & Co.Analyst Color Price Target Analyst Ratings


Related Articles (ROVI)

Around the Web, We're Loving...

Get Benzinga's Newsletters