Kaufman Bros. Comments on TiVo (TIVO) and DISH (DISH) Court Ruling
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Price: $6.09 --0%
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
10 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
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Kaufman Bros. is maintaining its Hold rating and $10 price target on shares TiVo (NASDAQ: TIVO) following the mixed results from the Court of Appeals.
The Circuit Court ruling with regard to disablement was based on DISH's (Nasdaq: DISH) waiving of its own rights with regards to the original eight models of DVR cited in the case.
The firm comments that, "if the District Court finds DISH's workaround invalid under the new standards set forth by the Circuit Court, we believe DISH can once again appeal the decision to the Federal Circuit Court. Moreover, if DISH were to appeal, we believe it would likely be granted a stay against the enforcement of an injunction disabling its other DVR, because it had not waived its rights with regards to these DVR."
Kaufman Bros. also reports that, "many investors believe that remanding the case of infringement to the District Court makes this case a slam dunk for TiVo. We believe this interpretation is incorrect as it fails to acknowledge the creation of two classes of DVR in this case, the narrower standard of claims construction put forth for determining infringement, and DISH's ability to continue to appeal unfavorable rulings."
For more ratings news on TiVo click here and for the rating history of TiVo click here.
Shares of TiVo closed at $10.84 yesterday.
The Circuit Court ruling with regard to disablement was based on DISH's (Nasdaq: DISH) waiving of its own rights with regards to the original eight models of DVR cited in the case.
The firm comments that, "if the District Court finds DISH's workaround invalid under the new standards set forth by the Circuit Court, we believe DISH can once again appeal the decision to the Federal Circuit Court. Moreover, if DISH were to appeal, we believe it would likely be granted a stay against the enforcement of an injunction disabling its other DVR, because it had not waived its rights with regards to these DVR."
Kaufman Bros. also reports that, "many investors believe that remanding the case of infringement to the District Court makes this case a slam dunk for TiVo. We believe this interpretation is incorrect as it fails to acknowledge the creation of two classes of DVR in this case, the narrower standard of claims construction put forth for determining infringement, and DISH's ability to continue to appeal unfavorable rulings."
For more ratings news on TiVo click here and for the rating history of TiVo click here.
Shares of TiVo closed at $10.84 yesterday.
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