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Fly News Breaks for February 19, 2020
XPER, TIVO
Feb 19, 2020 | 08:54 EDT
B. Riley FBR analyst Eric Wold raised the firm's price target on TiVo to $21 from $19 and reiterates a Buy rating on the shares. The company last night reported Q4 results that exceeded revenue and adjusted EBITDA expectations, with the upside driven by improving core revenue run-rates within both the intellectual property licensing and product segments coupled with continued expense reduction success, Wold tells investors in a research note. The analyst believes the pro forma TiVo/Xperi (XPER) projections provide a "clear demonstration of the attractiveness and synergistic potential of the proposed merger."
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