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NEW YORK (AP) -- TiVo Inc. shares rose Wednesday after an American Technology Research analyst said the digital video recorder provider will probably win a patent lawsuit against EchoStar Communications Corp. Last year, a court ordered EchoStar to pay TiVo $89.6 million for violating TiVo patents on technology that allows TiVo customers to record programming on one channel while watching another. EchoStar, which operates the Dish Network satellite TV service, is appealing the ruling, with oral arguments set for Thursday. Analyst Jeff Schreiner said TiVo shares could rise to $13 if the federal appeals court rules in its favor, or drop to $4 if it loses. He restarted coverage with a "Buy" rating, and set a price target of $11 per share, saying there is a 60 percent chance TiVo will prevail. The stock rose 39 cents, or 5.9 percent, to $6.99 in afternoon trading. Schreiner said TiVo is losing subscribers, but he believes investors are overlooking the value of its user interface deal Comcast Corp., which has about 5.6 million DVR subscribers. "While current business fundamentals are not strong, the potential for favorable litigation and expansion of the Comcast relationship create value we believe is not reflected in today's share price," he said.
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