Soleil Securities Starts DIRECTV Group (DTV) at Underweight
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Soleil Securities initiates coverage on DIRECTV Group (NYSE: DTV) with an Underweight rating and $21 price target.
The firm said, "While the stock has been performing well, our negative view is based on a critical market share cross-over in 1Q08: Telco took more video share than Satellite/Cable. We expect DTV to continue to lose share relative to the price/value of competing subscription video packages and note that in its single product, video, competitors offer a comparable video product that can be subsidized with Internet, telephony, and wireless."
DirecTV closed at $27.36 yesterday.
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