(TiVo article updated with stock price information and additional analyst commentary.)NEW YORK ( TheStreet) -- TiVo ( TIVO) shares continue to surge as the company's Premiere service gains more recognition at this year's Consumer Electronics Show. Tivo shares are climbing more than 2.5% to around $10.10 today after gaining more than 8% yesterday. TiVo finished Wednesday up 8.8% to close at $9.85 after more than 7.2 million shares traded hands. Analyst David Miller of Caris said that the stock's movement is likely in connection to the buildup surrounding the major annual tech show at the end of this week. While he doesn't expect any key announcements about TiVo to come out of the CES, he said that investors are banking on TiVo's Premiere set top box emerging as the "media hub that is going to organize the multi-channel universe." The Tivo Premiere set top box features content via cable and Internet connections. TiVo's service integrates Web-based features such as Netflix ( NFLX), Amazon ( AMZN) and Google's ( GOOG) YouTube videos, and allows users to access social networking site on their television screen.
Analyst Rich Tullo with Albert Fried believes that TiVo has strong brand recognition and that its service is superior to most digital video recorders supplied by multiple system operators. "We think TiVo's ability to integrate over-the-top programming as well as social media is novel and solidifies TiVo's standing as the gold standard in
personal video recorder services," Tullo said in a Jan. 3 research note. terabyte storage facility, with use of only 1 remote control," he said in his Jan. 6 research note. "Premiere is really the only device that can pull in disparate forms of content, both linear and non-linear, into one central hub." Tullo believes that the Premiere platform's ability to deliver addressable advertising solves a lot of problems that face small and mid size MSOs. TiVo's recent integration of technology will benefit these companies as TiVo focuses on delivering targeted advertising into the homes of its subscribers. Tullo, Miller and analyst Mark Harding with Maxim Group agree that the Federal court decision regarding TiVo's litigation with Dish Network ( DISH) and EchoStar ( SATS) is critical. If TiVo wins, it would earn a settlement between $75 and $200 million, Tullo explained. Tullo recently upgraded TiVo to a buy rating from 'market perform' and maintained his price target of $12 while Harding reiterated his buy rating of the stock in a Jan. 5 note and held his 12-month target price at $20. Miller rates the stock as a buy with a $17 price target. -- Written by Theresa McCabe in Boston. >To contact the writer of this article, click here: Theresa McCabe. >To follow the writer on Twitter, go to @TheresaMcCabe. >To submit a news tip, send an email to: firstname.lastname@example.org.