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Albert Fried: TiVo Comes Out On Top In Netflix/Comcast Deal

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Comcast (NASDAQ: CMCSA) recently reached a deal with Netflix (NASDAQ: NFLX) to provide faster internet speed for Netflix user streaming. As part of the deal, Comcast will receive direct content streaming from Netflix. The deal gives the ability for Comcast to distribute this content in a variety of different vehicles.

Rich Tullo of Albert Fried & Company projects this deal to be a catalyst for a third company: TiVo (NASDAQ: TIVO).

Tullo believes the utilizing TIVO Set-top Boxes (STB) would be an easier bridge for CMCSA, "While streaming NFLX on CMCSA owned-and-operated Boxes has TV and Movie Rights content conflicts which we think needs to be resolved, we think enabling NFLX on TIVO boxes is really a turnkey solution."

TiVo currently provides the only STB platform to provide NFLX content and it would be ideal for CMCSA to utilize its agreement with TIVO to make the transition.

Albert Fried reiterates its rating of Overweight with a price target of $23, up 90% from its current trading price.

TIVO closed previously at $12.72 and is currently trading up nearly 3% at $13.10.

Latest Ratings for TIVO

DateFirmActionFromTo
Dec 2019BWS FinancialDowngradesBuyHold
Aug 2018B. Riley FBRMaintainsBuyBuy
Aug 2018JP MorganMaintainsOverweightOverweight

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