UPDATE: Goldman Sachs Initiates TiVo at Buy; Firing on All Cylinders
Goldman Sachs initiated coverage on TiVo (NASDAQ: TIVO) with a Buy rating and a $15 price target.
Goldman Sachs commented, "We view TiVo as a leading vendor well positioned to target consumers who desire a premium viewing experience in the digital living room and on mobile devices. With the pieces of the profitability puzzle falling into place (improving churn for its TiVo-owned subscribers, a positive inflection for its MSO subscriber base ex-Virgin Media, continued traction with Virgin Media, and recently signed distribution deals), along with R&D cost controls, we see a reasonable foundation for management's adjusted EBITDA profitability goal for FY14 and beyond."
TiVo closed at $12.43 on Thursday.
Latest Ratings for TIVO
|Jun 2016||MKM Partners||Downgrades||Buy||Neutral|
|Mar 2015||Macquarie||Initiates Coverage on||Outperform|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.