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TIVO

TiVo

$14.50

0.1 (0.69%)

, GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

10:26
01/18/18
01/18
10:26
01/18/18
10:26

TiVo rises amid expanded patent license agreement with Google

Shares of TiVo (TIVO) are rising after the company announced an expanded multi-year patent agreement with Alphabet's Google (GOOG, GOOGL). EXPANDED PATENT AGREEMENT: On Thursday, TiVo Corporation announced that Google expanded its multi-year patent license agreement to expressly include YouTube TV. The agreement covers Google's use of TiVo's patented technologies worldwide and offers a license for Google's products and services across internet-based platforms and devices. "The world of video entertainment is expanding with exciting new consumer offerings such as YouTube TV," said Arvin Patel, executive vice president and chief intellectual property officer at TiVo's Rovi Corporation. "We are thrilled to extend our relationship with Google through the license of TiVo's innovations and technology that further consumers' ability to find and enjoy content on the device of their choice." ANALYST REACTION: Following the announcement of the expanded agreement, JPMorgan analyst Sterling Auty noted that Google is already a patent licensee for the original YouTube and Google Fiber and the new contract is "coterminous" with that current agreement. He said that with the expanded Google deal, TiVo now covers four of the virtual multichannel video program distributors, Dish's (DISH) Sling TV, AT&T's (T) DirecTV Now, Sony (SNE) Vue and YouTube TV, which will enable the company to capitalize on users leaving larger pay-tv operators. The analyst added he is "especially excited" about the expansion due to millennial YouTube content consumption and the potential for TiVo to benefit through any success that Google experiences with the service. Auty keeps an Overweight rating on the shares. PRICE ACTION: TiVo was up 2%, or 25c, to $14.75 in morning trading.

TIVO

TiVo

$14.50

0.1 (0.69%)

GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

GOOG

Alphabet

$1,131.98

10.22 (0.91%)

T

AT&T

$37.33

0.48 (1.30%)

SNE

Sony

$49.09

-0.73 (-1.47%)

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TIVO TiVo
$14.50

0.1 (0.69%)

01/18/18
JPMS
01/18/18
NO CHANGE
JPMS
Overweight
TiVo in 'great position' after expanded Google deal, says JPMorgan
JPMorgan analyst Sterling Auty says TiVo's (TIVO) expanded agreement with Google (GOOG, GOOGL) to cover the new YouTube TV puts the company in a "great position" to capitalize if subscribers leave larger pay-TV operators for skinny bundles and cord-cutting options. The analyst is "especially excited about this agreement given millennial YouTube content consumption." He keeps an Overweight rating on TiVo shares.
01/11/18
JPMS
01/11/18
NO CHANGE
Target $34
JPMS
Overweight
TiVo undervalued even without Comcast, says JPMorgan
JPMorgan analyst Sterling Auty still expects TiVo (TIVO) to ultimately resolve the situation with Comcast (CMCSA) in a "positive form that is value creating for shareholders." To better understand the impact, however, the analyst removed Comcast from his TiVo estimates. This resulted in his 2018 earnings per share estimate dropping to $1.75 from $1.85. TiVo stock appears undervalued even without Comcast, Auty tells investors in a research note. He keeps an Overweight rating on the shares with a $34 price target. The analyst notes that his price target assumes a positive resolution with Comcast.
01/11/18
PIPR
01/11/18
NO CHANGE
Target $25
PIPR
Overweight
Piper confident TiVo can renew with Comcast as legal fight continues
After TiVo (TIVO) reported that it has filed new lawsuits against Comcast (CMCSA) and said it plans to further a prior ITC court win, Piper Jaffray analyst Michael Olson said he believes these additional suits are intended to show that TiVo is not backing down in its legal battle. The analyst, who said he has a high degree of confidence in the company successfully renewing with Comcast, keeps his Overweight rating and $25 price target on TiVo shares.
01/04/18
JPMS
01/04/18
NO CHANGE
Target $34
JPMS
Overweight
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.
GOOGL Alphabet Class A
$1,139.10

8.4 (0.74%)

01/12/18
MSCO
01/12/18
NO CHANGE
MSCO
Morgan Stanley most bullish on Amazon in large-cap internet
Morgan Stanley analyst Brian Nowak issued his 2018 outlook for U.S. internet names, saying among the large caps he is bullish on Amazon (AMZN) as he sees growing high margin revenues leading to upward revisions of estimates for the company. He is also positive on Facebook (FB), contending that core Facebook ad unit pricing can rise over 20% in 2018 and Instagram can add about $16B in ad revenue. Nowak also keeps an Overweight rating on Alphabet (GOOG), as he expects innovation to drive beats on revenue and profits. He has a $1,250 price target on Amazon, $215 price target on Facebook and a $1,210 target on Alphabet.
01/12/18
RHCO
01/12/18
NO CHANGE
Target $1250
RHCO
Buy
Alphabet price target raised to $1,250 from $1,180 at SunTrust
SunTrust analyst Youssef Squali kept his Buy rating and raised his price target on Alphabet to $1,250 as part of his "Favorite Internet Stocks; Bullish Thesis Strengthened" research note. Squali says the company represents "one of the best plays" on macro economy trends amid a shift to digital advertising, rising consumption of video, and growing use of cloud computing. The analyst also notes several of Alphabet's longer-term initiatives such as self-driving cars with Waymo and smart home technology with Nest.
01/11/18
PIPR
01/11/18
NO CHANGE
Target $1300
PIPR
Overweight
Alphabet price target raised to $1,300 from $1,150 at Piper Jaffray
Piper Jaffray analyst Sam Kemp raised his price target on Alphabet (GOOG) to $1,300, saying Google Cloud Platform is gaining mindshare from smaller competitors in the public cloud space amid "ongoing feature improvements, accompanying platform evangelism, and adoption by younger companies". The analyst contends that as a #3 player in the field behind Amazon's (AMZN) AWS and Microsoft's (MSFT) Azure, GCP can still create "meaningful shareholder value" within the accelerating cloud environment. Kemp keeps his Overweight rating on Alphabet.
GOOG Alphabet
$1,131.98

10.22 (0.91%)

T AT&T
$37.33

0.48 (1.30%)

12/14/17
HDLY
12/14/17
NO CHANGE
HDLY
Hilliard Lyons Top Ideas for Year-End 2017
Hilliard Lyons Research named its Top Ideas for Year-End 2017. They are: Pinnacle Financial (PNFP), Disney (DIS), J.M. Smucker (SJM), NextEra Energy (NEE), Zoetis (ZTS), Leggett & Platt (LEG), South Jersey Industries (SJI), Tanger Factory (SKT), Physicians Realty Trust (DOC), VMware (VMW), AT&T (T), and American Water (AWK).
12/05/17
COWN
12/05/17
NO CHANGE
Target $170
COWN
Outperform
SBA Communications price target raised to $170 from $155 at Cowen
Cowen analyst Colby Synesael raised his price target on SBA Communications (SBAC) to $170 from $155 following meetings with management. The analyst noted its opportunities with Sprint (S) and AT&T (T) along with the small likelihood of M&A. Synesael reiterated his Outperform rating on SBA Communications shares.
01/17/18
01/17/18
DOWNGRADE
Target $55

Equal Weight
With fewer likely buyers seen, Morgan Stanley cuts Dish to Equal Weight
As previously reported, Morgan Stanley analyst Benjamin Swinburne downgraded Dish Network (DISH) to Equal Weight from Overweight as he now sees fewer likely buyers of its assets than hoped. T-Mobile (TMUS) has acquired significant additional spectrum, reducing the potential for a Dish partnership, tax reform will help Verizon (VZ) as it moves further towards small cell deployments in lieu of adding new spectrum, and the FCC is also considering a new auction, Swinburne tells investors. Additionally, the DOJ challenge of AT&T's (T) Time Warner (TWX) deal suggests a more challenging M&A backdrop than assumed for AT&T, which he had viewed as potentially the most logical buyer of Dish's DBS assets, Swinburne added. With Dish beginning to spend on its network in 2018 to boot, Swinburne lowered his price target on the stock to $55 from $75.
01/12/18
NEED
01/12/18
NO CHANGE
Target $22
NEED
Buy
Adtran price target lowered to $22 from $26 at Needham
Needham analyst Richard Valera lowered his price target on Adtran (ADTN) to $22 after the company's "sharply weaker" Q4 pre-announcement and a soft Q1 due to a slowdown at a "Tier 1 customer". Valera says the shortfall is likely the result of a stoppage at CenturyLink's (CTL) vectoring program. Longer term, the analyst keeps his Buy rating on Adtran, with other programs, such as NBN in Australia, AT&T (T) G.Fast, and a possible Verizon (VZ) NGPON win, ramping up in 2018.
SNE Sony
$49.09

-0.73 (-1.47%)

12/07/17
BARD
12/07/17
NO CHANGE
BARD
Data so far suggesting healthy holiday game sales, says Baird
Baird analyst Colin Sebastian noted that French game maker Ubisoft (UBSFY) raised its revenue and margin guidance for the December quarter, which he views as a slight positive for video game industry sales momentum this holiday season. Data also point to solid sales for both Sony's (SNE) PS4 and Nintendo's (NTDOY) Switch, which are a driver of software as well as a key catalyst for Gamestop (GME), Sebastian added. Other publicly traded companies in the video game space include Activision Blizzard (ATVI), Electronic Arts (EA), Take-Two (TTWO) and Microsoft (MSFT).
10/11/17
MSCO
10/11/17
DOWNGRADE
MSCO
Equal Weight
Sony downgraded to Equal Weight from Overweight at Morgan Stanley
10/11/17
10/11/17
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. Schlumberger (SLB) downgraded to Market Perform from Outperform at BMO Capital with analyst Daniel Boyd saying he sees risk to 2018 estimates and limited room for multiple expansion. 2. Sony (SNE) downgraded to Equal Weight from Overweight at Morgan Stanley 3. Chico's (CHS) downgraded to Underperform from Neutral at BofA/Merrill with analyst Lorraine Hutchinson saying the premium multiple is unwarranted. 4. Robert Half (RHI) downgraded to Hold from Buy at SunTrust with analyst Tobey Sommer citing the recent underperformance relative to the U.S. staffing market and moderating growth of accounting jobs. 5. Coach (COH) downgraded to Neutral from Outperform at Consumer Edge. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/17/17
RILY
11/17/17
NO CHANGE
Target $36
RILY
Neutral
21st Century Fox price target raised to $36 from $29 at B. Riley FBR
B. Riley FBR analyst Barton Crockett raised his price target for 21st Century Fox (FOXA) to $36 citing recent reports that Disney (DIS), Comcast (CMCSA), Verizon (VZ) or Sony (SNE) may make offers for the company. The "formerly unthinkable" prospect of Rupert Murdoch selling assets is likely to be factored into the equity price for some time, Crockett tells investors in a research. He keeps a Neutral rating on Fox given the stock's proximity to his new target.

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