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TIVO

TiVo

$14.80

-0.3 (-1.99%)

, CMCSA

Comcast

$40.41

-0.66 (-1.61%)

06:26
01/04/18
01/04
06:26
01/04/18
06:26

TiVo leveraged buyout makes sense with Comcast contract, says JPMorgan

JPMorgan analyst Sterling Auty believes a leveraged buyout of TiVo (TIVO) would make sense if the company can successfully reach a new contract deal with Comcast (CMCSA). The Street reported on December 29 that TiVo has received multiple expressions of interest from private equity buyers at an acquisition price slightly north of $20. A successful deal above $20 would need a positive outcome with Comcast settling on a new contract, Auty tells investors in a research note. At the different levels of leverage, the analyst feels a financial sponsor can offer as much as a mid-$20 per share price for TiVo. Even without a transaction, the analyst still stills believe TiVo has the potential to unlock shareholder value with its 4.9% dividend yield, cost synergies, and cash flow outlook. Auty has an Overweight rating on the stock with a $34 price target.

TIVO

TiVo

$14.80

-0.3 (-1.99%)

CMCSA

Comcast

$40.41

-0.66 (-1.61%)

  • 08

    Jan

  • 09

    Jan

  • 09

    Jan

  • 17

    Jan

TIVO TiVo
$14.80

-0.3 (-1.99%)

11/21/17
JPMS
11/21/17
NO CHANGE
JPMS
Overweight
ITC ruling a 'significant positive' for TiVo, says JPMorgan
The International Trade Commission tonight ruled in favor of TiVo (TIVO) in its final determination against Comcast (CMCSA), finding that the cable company is infringing on two of the six patents in question, JPMorgan analyst Sterling Auty tells investors in a research note. The analyst views the ruling as a "significant positive" for TiVo and a "major step" in both companies working toward final resolution. He estimates a settlement could bring in $90M-$100M of catchup payments and ongoing royalties to TiVo. Auty has an Overweight rating on the shares.
11/22/17
PIPR
11/22/17
NO CHANGE
Target $25
PIPR
Overweight
TiVo ITC win raises odds of Comcast renewal, says Piper Jaffray
Piper Jaffray analyst Michael Olson said the International Trade Commission ruling in favor of TiVo (TIVO) increases the likelihood that a renewal deal with Comcast (CMCSA) will be reached, but he does not have it built into his estimates until early 2018. He maintains an Overweight rating and $25 price target on TiVo shares, which are up nearly 13% to $19.90 in pre-market trading.
12/13/17
RILY
12/13/17
DOWNGRADE
Target $18
RILY
Neutral
TiVo downgraded to Neutral from Buy at B. Riley FBR
B. Riley FBR analyst Eric Wold downgraded TiVo (TIVO) to Neutral and lowered his price target for the shares to $18 from $24. The analyst has heightened concerns around the company's dispute with Comcast (CMCSA). The cable giant has worked around the ITC ruling, which opens the door to potentially working to avoid an ongoing license, Wold tells investors in a research note.
12/13/17
12/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. TiVo (TIVO) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold citing heightened concerns around the company's dispute with Comcast (CMCSA). 2. Accuray (ARAY) downgraded to Underweight from Neutral at JPMorgan with analyst Tycho Peterson saying he sees better risk/rewards elsewhere. 3. Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill analyst Heather Balsky saying the margin story is "dimming" and brand demand is "still not bright." 4. bluebird bio (BLUE) downgraded to Hold from Buy at Maxim with analyst Jason McCarthy saying the 20% spike in the stock price after the latest ASH data presentation gives the company a $9B valuation. 5. Public Storage (PSA) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he expects ongoing top line deceleration from a combination of declining occupancy and moderating rate growth along with limited near-term benefit from the company's development pipeline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CMCSA Comcast
$40.41

-0.66 (-1.61%)

12/07/17
JEFF
12/07/17
NO CHANGE
JEFF
Jefferies sees Disney, not Comcast, as more likely Fox suitor
Amid press reports that suggest Comcast (CMCSA) continues to pursue 21st Century Fox (FOXA) along with Disney (DIS), Jefferies analyst John Janedis says he sees Disney as the more likely suitor given the regulatory concerns with a Comcast deal. The analyst believes Comcast would need to offer a premium to Disney for Fox to compensate for more regulatory risk. However, assuming Comcast has interest in the same assets as Disney, and using the same $66B value for Fox's assets, the analyst estimates the deal would be high-single-digit dilutive to Comcast earnings, versus neutral to Disney due to relative tax rates.
12/11/17
BTIG
12/11/17
NO CHANGE
BTIG
BTIG says Comcast could pay 'significantly' more for Fox assets than Disney
BTIG analyst Richard Greenfield said earlier in a note to investors that he believes Comcast (CMCSA) could pay "significantly more" for the assets that Fox (FOXA) is reportedly looking to sell than could Disney (DIS). He also believes Comcast could have a better chance of securing regulatory approval for a deal if they are willing to spin off all of the regional sports networks that a combined entity would own.

TODAY'S FREE FLY STORIES

IVC

Invacare

$16.50

0.15 (0.92%)

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  • 12

    Sep

PRO

Pros Holdings

$35.39

-1.91 (-5.12%)

20:39
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Syndicate
Pros Holdings 3.8M share Secondary priced at $34.00 »

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IIN

IntriCon

$63.85

-4.9 (-7.13%)

20:34
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  • 06

    Sep

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ADUS

Addus HomeCare

$59.35

-3.1 (-4.96%)

20:33
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Syndicate
Addus HomeCare 2.1M share Secondary priced at $59.00 »

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  • 16

    Aug

LABL

Multi-Color

$63.90

-1 (-1.54%)

20:32
08/15/18
08/15
20:32
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20:32
Downgrade
Multi-Color rating change  »

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WMT

Walmart

$90.24

-0.565 (-0.62%)

, JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

20:25
08/15/18
08/15
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20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

WMT

Walmart

$90.24

-0.565 (-0.62%)

JCP

J.C. Penney

$2.40

-0.24 (-9.09%)

03/08/13
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  • 16

    Aug

  • 16

    Aug

WUBA

58.com

$58.59

-3.27 (-5.29%)

19:09
08/15/18
08/15
19:09
08/15/18
19:09
Hot Stocks
Breaking Hot Stocks news story on 58.com »

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  • 16

    Aug

  • 10

    Sep

WUBA

58.com

$58.59

-3.27 (-5.29%)

19:08
08/15/18
08/15
19:08
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19:08
Earnings
58.com reports Q2 adjusted earnings per ADS 82c, consensus 68c »

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  • 16

    Aug

  • 10

    Sep

WAIR

Wesco Aircraft

$13.65

-0.3 (-2.15%)

19:07
08/15/18
08/15
19:07
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19:07
Initiation
Wesco Aircraft initiated at UBS »

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TGI

Triumph Group

$21.10

-0.9 (-4.09%)

19:07
08/15/18
08/15
19:07
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Initiation
Triumph Group initiated at UBS »

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HXL

Hexcel

$68.40

-1.13 (-1.63%)

19:06
08/15/18
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19:06
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Initiation
Hexcel initiated at UBS »

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  • 06

    Nov

ERJ

Embraer

$18.64

-0.495 (-2.59%)

19:05
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Initiation
Embraer initiated at UBS »

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CW

Curtiss-Wright

$130.92

-2.42 (-1.81%)

19:04
08/15/18
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19:04
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Initiation
Curtiss-Wright initiated at UBS »

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LLL

L3 Technologies

$208.08

-1.73 (-0.82%)

19:03
08/15/18
08/15
19:03
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Initiation
L3 Technologies initiated at UBS »

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GD

General Dynamics

$192.29

-1.33 (-0.69%)

19:03
08/15/18
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Initiation
General Dynamics initiated at UBS »

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BDRBF

Bombardier

$0.00

(0.00%)

19:02
08/15/18
08/15
19:02
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19:02
Initiation
Bombardier initiated at UBS »

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HEI

Heico

$76.50

-1.81 (-2.31%)

19:00
08/15/18
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Heico initiated at UBS »

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  • 28

    Aug

  • 13

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  • 06

    Nov

HRS

Harris

$162.73

-2.15 (-1.30%)

18:59
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Harris initiated at UBS »

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NOC

Northrop Grumman

$291.52

-2.35 (-0.80%)

18:59
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PNC

PNC Financial

$142.03

-0.7 (-0.49%)

, WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

18:57
08/15/18
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Periodicals
PNC faces subpoenas over low-income housing tax credits, Bloomberg says »

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PNC

PNC Financial

$142.03

-0.7 (-0.49%)

WFC

Wells Fargo

$57.99

-0.08 (-0.14%)

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  • 12

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UTX

United Technologies

$131.75

-0.65 (-0.49%)

18:57
08/15/18
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Initiation
United Technologies initiated at UBS »

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  • 17

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B

Barnes Group

$65.59

-0.26 (-0.39%)

18:56
08/15/18
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SPR

Spirit AeroSystems

$84.51

-1.6 (-1.86%)

18:55
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TDG

TransDigm

$351.43

-5.195 (-1.46%)

18:54
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HII

Huntington Ingalls

$240.82

-2.5 (-1.03%)

18:54
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Initiation
Huntington Ingalls initiated at UBS »

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