DirecTV Takes TiVo Skyward

[Gregg Lengling]

Rodman & Renshaw analyst Daniel Ernst restated his "market outperform" rating and raised his 12-month price target on TiVo Inc. DirecTV Inc. said it expected to sign on between 550,000 and 600,000 TiVo customers in 2003 — nearly triple Ernst's estimate of 218,000 subscribers. Ernst raised his price target for the stock from $7 to $8.