DirecTV Takes TiVo Skyward

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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.