David Miller: Upgrading Tivo For These Reasons

In response to TiVo’s (NASDAQ:TIVO) plan to introduce boxes that work with DirecTV’s (NASDAQ:DTV) satellite TV service, Caris’ David Miller is upgrading the company’s shares, reversing his September downgrade and raising his target from $10 to $12. Miller says the combo-box “will quench pent-up demand within the DTV sub base for trick-play functionality on two tuners while enabling HD recording capabilities.”

Here’s how these stocks are trading on the news:

TiVo Inc. (NASDAQ:TIVO): TIVO shares recently traded at $9.46, down $0.29, or 2.97%. They have traded in a 52-week range of $7.06 to $12.65. Volume today was 856,527 shares versus a 3-month average volume of 2,487,740 shares. The company’s trailing P/E is 18.73, while trailing earnings are $0.51 per share.

DIRECTV (NASDAQ:DTV): DTV shares recently traded at $46.26, up $0.2, or 0.43%. They have traded in a 52-week range of $39.12 to $53.40. Volume today was 2,488,297 shares versus a 3-month average volume of 6,675,420 shares. The company’s trailing P/E is 14.42, while trailing earnings are $3.21 per share.