Markets & Finance

Citigroup Upgrades TiVo

Citigroup upgrades TiVo Inc. (TIVO) to buy from hold.

Analyst Tony Wible says his recent meeting with TiVo management supports his view CMCSA deal a watershed event for TiVo.

He says the deal substantiates TiVo's patented digital video recorder (DVR) advertising products, he views TiVo's search functionality as an integral component of new video-on-demand (VOD) offerings.

Also, Wible believes TiVo could enter into additional multi-system operator (MSO) deals over next two years, driven by, among other things, the MSO's desire to maximize DVR profits, gain foothold within advanced DVR-based advertising and improve product performance. Wible ups TiVo's $7.25 target to $7.75.

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