Canaccord Genuity on Media Stocks: Recent Events on DISH, NWSA, CABLE and RENT
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Rating Summary:
0 Buy, 0 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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Canaccord Genuity on Media Stocks:
Analyst, Thomas Eagan, said, "Several events took place this week in the media space that caused a few of our BUY-rated stocks to pull back. We see these catalysts as buying opportunities."
Dish Network (DISH : NASDAQ)(BUY): Some incremental value left for the spectrum Some incremental value left for the spectrum Yesterday, DISH recouped the bulk of the market cap losses from Wednesday’s pullback as investors realized that there was still unrealized spectrum value in DISH shares.
News Corp (Nasdaq: NWSA)(BUY)
NWSA pullback a buying opportunity. NWSA pulled back yesterday, likely due to concern with the suspension of the voting rights of non-US Class B holders. We remain buyers of NWSA because 1) we believe the company will come closer to meeting its F2012 (June) guidance with its March earnings and 2) company management will likely explain any temporary delay in its plan to repurchase $5B shares by June 30.
Comcast (Nasdaq: CMCSA)(BUY) and Time Warner Cable (NYSE: TWC): KNOL acquisition positive for cable multiples: WOW!’s $1.5B purchase of Knology (KNOL), a cable operator serving markets in the South and Midwest, at mid-high 7x 2012E EBITDA multiple is a moderate positive for the sector. . .the transaction does speak favorably to the prospects for well-run cable operators, namely CMCSA and TWC.
Rentrak (Nasdaq: RENT)(BUY) Further penetrating indie station groups Over the past several days, RENT has announced several new station deals that confirm the company’s ability to become the measurement company of choice for the independent TV stations. . .We expect RENT will win the bulk of these negotiations because of the higher accuracy, increased frequency and lower cost of its data.
Analyst, Thomas Eagan, said, "Several events took place this week in the media space that caused a few of our BUY-rated stocks to pull back. We see these catalysts as buying opportunities."
Dish Network (DISH : NASDAQ)(BUY): Some incremental value left for the spectrum Some incremental value left for the spectrum Yesterday, DISH recouped the bulk of the market cap losses from Wednesday’s pullback as investors realized that there was still unrealized spectrum value in DISH shares.
News Corp (Nasdaq: NWSA)(BUY)
NWSA pullback a buying opportunity. NWSA pulled back yesterday, likely due to concern with the suspension of the voting rights of non-US Class B holders. We remain buyers of NWSA because 1) we believe the company will come closer to meeting its F2012 (June) guidance with its March earnings and 2) company management will likely explain any temporary delay in its plan to repurchase $5B shares by June 30.
Comcast (Nasdaq: CMCSA)(BUY) and Time Warner Cable (NYSE: TWC): KNOL acquisition positive for cable multiples: WOW!’s $1.5B purchase of Knology (KNOL), a cable operator serving markets in the South and Midwest, at mid-high 7x 2012E EBITDA multiple is a moderate positive for the sector. . .the transaction does speak favorably to the prospects for well-run cable operators, namely CMCSA and TWC.
Rentrak (Nasdaq: RENT)(BUY) Further penetrating indie station groups Over the past several days, RENT has announced several new station deals that confirm the company’s ability to become the measurement company of choice for the independent TV stations. . .We expect RENT will win the bulk of these negotiations because of the higher accuracy, increased frequency and lower cost of its data.
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