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Fly News Breaks for May 3, 2016
TIVO, ROVI
May 3, 2016 | 05:56 EDT
JPMorgan analyst Sterling Auty views the 8% selloff in shares of Rovi (ROVI) since the announcement of the TiVo (TIVO) acquisition as a buying opportunity. The pullback "can be a head scratcher given the prospects for the accretive acquisition," Auty tells investors in a research note. He expects tier 1 contract renewals and accretion from the deal to drive outperformance in Rovi shares. The analyst keeps an Overweight rating on the name.
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