Following the adverse court ruling in the Netflix (NFLX) patent case, Brean Capital analyst Todd Mitchell says Rovi's (ROVI) potential negative catalysts are behind it and that investors can now become more constructive on the stock. The market is overestimating the linkage between the court ruling and Rovi's ability to renew key licensing deals with large U.S. service providers within the next year, Mitchell tells investors in a research note titled "The Knife Has Fallen." He expects Rovi to renew its service provider deals in 2016, allowing the company to return to double-digit earnings growth in 2016 and 2017. Mitchell reiterates a Buy rating on Rovi with a $31 price target.