Albert Fried Maintains Buy on TiVo on Long-Term Growth Strategy

Albert Fried & Company has published a research report on TiVo

commenting on the company's long-term growth strategy and recent decline in stock price. In the report, Albert Fried writes, "We like TIVO's long- term growth strategy. By deploying the Company's OTS enabled set-top boxes at MSOs, TIVO offers low cost solutions for middle market Pay TV operators. Near-term subscriber losses are already discounted in TIVO's valuation in our view. We think TIVO's 7% decline in share price since the Company reported F2012 results creates a buying opportunity. In our view, profit taking is a result of chatter about Apple TV (AAPL, NC) as well as a discussion of a potential Motorola's (MMI, NC) STB business sale following the completion of the announced merger with GOOG (

)." Albert Fried maintains its Buy rating and $15 price target on TiVo, which is currently trading down $0.09 from Friday's $11.28 closing price.