Price Target Of $13.50 For TiVo Inc.
January 21, 2010 4:27 PM
Caris & Company recently covered TiVo Inc. (Nasdaq: TIVO) in a report, reiterating its "2*/Above Average" rating of the company and setting a price target of $13.50.
Caris noted that a recent lawsuit filed against TIVO had little merit and was a legal cover by Microsoft Corporation (Nasdaq: MSFT) to aid its partner AT&T (NYSE: ATT), which was already involved in a legal dispute with TIVO.
Although TIVO is losing its subscriber base, it stands to gain revenue if it wins its legal cases with AT&T and other companies.
Caris & Company projects revenues for the current quarter of $43.3 million and a core net operating loss of 13 cents per share. The following quarter should see revenues rise modestly to $43 - $45 million and an expected loss between 13 and 15 cents.
