Goldman Sachs Downgrades DIRECTV (DTV) to Neutral

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Goldman Sachs downgraded DIRECTV (NASDAQ: DTV) from Buy to Neutral with a price target of $52 (down from $56).

The firm said the U.S. deceleration offsets LatAm and buybacks. In the U.S., the firm now forecast revenue growth deceleration from 7.9% entering 2011 to 5.4% exiting the year

The firm cut 2012 revenue/EBITDA estimates to $29.2bn/$7.8bn. 2011E/2012E/2013E EPS are now $3.36/$4.20/$4.99, lowered US revenue/EBITDA forecasts are offset by lower D&A.

For more ratings news on DIRECTV click here and for the rating history of DIRECTV click here.

Shares of DIRECTV closed at $46.63 yesterday, with a 52 week range of $37.07-$53.40.

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