UPDATE: Albert Fried & Company Reiterates Overweight Rating, Raises PT on TiVo on Compelling Valuation

In a report published Wednesday, Albert Fried & Company analyst Rich Tullo reiterated an Overweight rating on

, and raised the price target from $16.00 to $22.00. In the report, Albert Fried & Company noted, “Key to TIVO's current and expected success with consumers and MSO's is the ability to sling DVR content on multiple devices globally via broadband IP networks. We think consumers will like the idea of anywhere Linear TV and DVR access in the cloud as they can watch their favorite HD TV and sports while they are at the summer home, at college, or commuting. According to the MLB, its digital users watch 13 minutes of Baseball on Smart Phones on game days. Moreover, TIVO subs don't have to wait a year to get Breaking Bad Season 6 while being subjected to Daily Hemlock Grove recommendations from Ted Sarandos. And TIVO has roughly 3 more EMMY's than NFLX too.” TiVo closed on Tuesday at $10.97.