ROVI: New CEO, But Little Else Should Change

This article was placed on behalf of the U.S. based equity research effort of institutional broker and investment bank Canaccord Genuity. It was part of a series of articles developed under an agreement with to work with a variety of contributors and assist them in delivering actionable investment ideas each week. The site, is one of the top 500 sites in the world with nearly 10 million subscribers and approximately 100 million page views a month.

Following a breakfast event with Rovi”s (ROVI) CFO, James Budge at CES, Canaccord Genuity tech analyst Jeff Rath reiterated his BUY rating and $63 price target on the company. Mr. Rath said:

“We continue to believe that ROVI is well positioned to benefit from current OTT [Over The Top TV and Video] trends and remain confident that numerous growth opportunities exist in 2012 and beyond.”

He added, “We believe management’s existing guidance will be reiterated at Thursday’s Investor Day and that no material organizational changes will accompany the new CEO hire.”

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