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BMO Capital Markets Reiterates Outperform Rating on TiVo Citing Future Growth

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In a report published Monday, BMO Capital Markets analyst Edward S. Williams reiterated an Outperform rating on TiVo (NASDAQ: TIVO) and maintained a price target of $15.

In the report, BMO Capital Markets noted, "We believe TiVo is approaching an inflection point and on the cusp of achieving adjusted EBITDA profitability in FY2014 driven by significant growth in MSO subscribers and licensing revenues. We believe the recent downward pressure on the shares of TIVO has been driven by the flight of event-driven investors exiting the stock following the legal settlements with Motorola and Cisco, but with the litigation overhang gone, we expect a growing number of fundamental investors to take a closer look at the company".

TiVo closed on Friday at $11.29.

Posted-In: BMO Capital Edward S. WilliamsAnalyst Color Reiteration Analyst Ratings

 

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