Driven by B Riley comments on the stock following management meetings.
B. Riley comments on TiVo following meetings with management
Friday, June 27, 2014 12:19:13 PM (GMT)
The firm recently hosted investor meetings with the company saying they (B. Riley) are increasingly confident TiVo is set to announce at least one major international licensing deal in the near term.
Shares are reiterated buy with a $19 target.
Analyst is Eric Wold
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This seems to make sense to me; management was surprisingly explicit in their expectations that material deals with new MSOs would likely be signed in the near-term on their last EPS call.
From a technical standpoint, the stock is ever so close to breaking above long-term resistance dating back to the 2000 and 2010 highs in the context of an overall flag pattern.
Taking the height of the flag pattern of ~$33 and adding it to the likely ~$13 break-out area, the stock's upside target should be ~$48, or in the area of its all-time highs.
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