News

No Surprises At Gemstar

3/03/2002 7:00 PM Eastern

Deutsche Bank Alex. Brown cable and satellite analyst Karim Zia reiterated his "strong buy" rating and $50 per share price target for Gemstar-TV Guide International Inc., despite concerns over the company's latest patent-infringement lawsuit before the International Trade Commission. In his report, Zia said a lack of information from the ITC proceedings — much of which involve confidential information unavailable to the public — seems to be the key driver for Gemstar's stock price. But he expects no surprises. "We continue to favorably handicap Gemstar's chances of a successful outcome, based on the company's past success in defending its patents," Zia wrote. Gemstar stock closed at $19 on Feb. 26, down 28 cents.