Nomura Securities Maintains a 'Reduce' on DIRECTV (DTV); Recap of Conference Call

Nomura Securities maintains a 'Reduce' on DIRECTV (NASDAQ: DTV) price target of $32.00.

Analyst, Mike McCormack, said, "On Friday February 24, 2012, we were joined by our Nomura Fixed Income counterparts Tony Volpon, Boris Segura and Benito Berber on a conference call to discuss the economic and political landscape in various Latin American countries. A replay of the call is available until 03/09/2012: (855) 859-2056. Friday’s call supported our bullish outlook for DTVLA’s growth profile. However, core to our concern on the DTVLA opportunity is that there is minimal free cash flow being generated by the entity. We continue to struggle with attributing significant value to the segment. Until investors can gain comfort that the Latin American business is capable of delivering enough free cash flow to service the debt already placed on the business, we recommend a cautious stance."

For an analyst ratings summary and ratings history on DIRECTV click here. For more ratings news on DIRECTV click here.

Shares of DIRECTV closed at $45.61 yesterday.

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