TiVo (TIVO) Sees Slight Bounce After Friday's Pounding

After getting slammed 40% on Friday on a major court setback, shares of TiVo Inc. (Nasdaq: TIVO) are rebounding 4% today.

In a rare move Friday, an appeals court set aside Tivo's win in a lawsuit with rivals Dish Network (NASDAQ: DISH) and EchoStar (NASDAQ: SATS) over patents for digital video recorders.

Analysts at Kaufman Bros. called Friday's En Banc review of the Dish appeal a "worse-case outcome for TIVO shareholders." They said the best-case now is this pushes the settlement out almost a year and other scenarios open "a whole other can of worms." They downgraded shares of Tivo from Buy to Neutral today with a $10 price target on the review.

Analysts at Caris & Co are taking the alternative view, and upgraded shares from Above Average to Buy on the significant share weakness. They lowered their price target from $22 to $17, but this is still well above the current price of $10.56.

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