Market Overview

UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Rovi Corporation

Related ROVI
Benzinga's Weekend M&A Chatter
Earnings Scheduled For February 19, 2015
Rovi +7.1%; activist submits board slate, company comments on Netflix (Seeking Alpha)

In a report published Friday, J.P. Morgan & Co. reiterated its Neutral rating on Rovi Corporation (NASDAQ: ROVI), and slightly raised its price target from $19.00 to $20.00.

J.P. Morgan noted, “In what we believe is a positive strategic move, the company is placing the Rovi Entertainment Storefront (RES) up for sale ahead of their analyst day next week on 1/9. This business that came with the acquisition of Sonic Solutions has had a questionable growth outlook and has been a drag on margins. Company also updated the full year 2012 outlook assuming RES is in discontinued operations; net of RES, revenue appears to be in the lower half of the guidance range while EPS is in the upper end of the guidance range, so we are adjusting our model.”

Rovi Corporation closed on Thursday at $15.85.

Latest Ratings for ROVI

Feb 2015Barrington ResearchUpgradesOutperform
Nov 2014Brean CapitalMaintainsBuy
Jul 2014JP MorganMaintainsNeutral

View More Analyst Ratings for ROVI
View the Latest Analyst Ratings

Posted-In: J.P. Morgan & Co.Analyst Color Price Target Analyst Ratings


Related Articles (ROVI)

Around the Web, We're Loving...