Morgan Keegan Inc. analyst Murray Arenson began covering personal-television service TiVo Inc. with an "outperform" rating and a $40-per-share price target. In his report, Arenson said that although TiVo has landed deals with DirecTV Inc., America Online Inc. and Comcast Corp. for its subscription service, its real potential lies in advertising and network promotions. TiVo could exceed the $40 share price if it captures 8 percent to 13 percent of the U.S.addressable-household market, he added. If TiVo does exceed Arenson's target, it would still lag behind the stock's 52-week high of $78.75. TiVo closed at $22.75 Aug. 29, up $2.06.
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