ROVI Signs Licensing Agreement With Google TV - Alphabet (NASDAQ:GOOG)

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Analysts at Collins Stewart reiterate their "buy" rating on Rovi Corporation (NASDAQ: ROVI). The target price for ROVI is set to $45.ROVI has signed a licensing agreement with Google TV, which allows users to navigate the web through TV. “We view the introduction of Google TV as a net positive for ROVI. While Google TV is, in our opinion, a compelling and competing product to TotalGuide CE, we fully expect that ROVI will be able to meaningfully monetize the success of Google TV through its metadata licensing agreement with GOOG and from TAM expansion of internet connected CE devices,” the analysts mention.While ROVI has signed a metadata licensing agreement with Google (NASDAQ: GOOG), no IPG licensing agreement has been signed. Collins Stewart added, “We fully expect that ROVI will be paid for its IPG patents on Google TVs shipped in the Fall.”More Analyst Ratings here

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