UPDATE: Jefferies Raises PT on TiVo Following Solid Quarter Report

In a report published Wednesday, Jefferies analyst Brian Fitzgerald reiterated a Buy rating on

, and raised the price target from $14.00 to $15.00. In the report, Jefferies noted, “TiVo recorded a solid qtr with rev and EBITDA above our ests. Importantly, the company now expects sustained GAAP net income profitability on a go-forward basis, a significant milestone. With ~$1B net cash (vs. a $1.4B mkt cap), we expect share repurchases will continue. And we continue to see lots of opportunity for the core business.” TiVo closed on Tuesday at $10.97.