Markets & Finance

Oppenheimer Ups Macrovision to Buy from Neutral

Oppenheimer upgraded Macrovision (MVSN) to buy from neutral, after the company posted quarterly results and raised its outlook.

Analyst Sasa Zorovic says the company delivered better-than-expected first quarter results. The anlyst believes the new management team at the company, assembled by Fred Amoroso over the past three quarters, is starting to execute on multiple fronts. He is encouraged by continued execution in the software segment, as well as the company's leading position within hardware. He notes the company's improving operating margin outlook for the year, among other things. He raises his 95 cents 2006 EPS estimate to $1.06, and his $240 million revenue estimate to $248 million. He started a $28 12-month stock price target.

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