Market Overview

UPDATE: Brean Capital Reiterates Buy Rating, Raises PT on Rovi Corporation

Share:
Related ROVI
J.P. Morgan Believes Rovi Could 'More Than Double, Perhaps Close To Triple'
The Knife Has Fallen' At Rovi Corp, Investors Can Now Think About Stock, Brean Says

In a report published Friday, Brean Capital reiterated its Buy rating on Rovi Corporation (NASDAQ: ROVI), and raised its price target from $20.00 to $22.00.

Brean Capital noted, “Rovi announced that it intends to sell the Rovi Entertainment Store (RES), moved the business to discontinued operations, issued pro forma financials for the first three quarters of 2012, and narrowed its 2012 guidance. We believe this is a positive development that further de-risks the company and will enhance its earning power in 2013 and beyond. We are lowering our 2012 revenue estimate to $650 million from $665 million, but raising our non GAAP EPS estimate to $2.10 from $1.85. We are lowering our 2013 revenue estimate to $650 million from $688 million, but raising our non GAAP EPS estimate to $2.20 from $2.10. Given our expectations for an enhanced earnings profile, we are raising our target price on shares of ROVI to $22 from $20, and we reiterate our Buy rating.”

Rovi Corporation closed on Thursday at $15.85.

Latest Ratings for ROVI

DateFirmActionFromTo
Aug 2015JP MorganUpgradesNeutralOverweight
Jul 2015KeyBancDowngradesOverweight
May 2015Stephens & Co.MaintainsEqual-weight

View More Analyst Ratings for ROVI
View the Latest Analyst Ratings

Posted-In: Brean CapitalAnalyst Color Price Target Analyst Ratings

 

Related Articles (ROVI)

Get Benzinga's Newsletters