Nomura Securities on Cable & Satellite: Cable Remains Preferred Investment Opportunity - Industry Themes Favor Cable
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Price: $209.56 --0%
Rating Summary:
11 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 20 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities on Cable & Satellite: Cable Remains Preferred Investment Opportunity - Industry Themes Favor Cable
Analyst, Mike McCormack, said, "Going into 4Q results, we saw opportunities for stock selection. As we progress into 2012, our picks remain the same, with TWC as our favorite long. At a sector level, we saw trends indicating a more decisive
separation in Cable and DBS trends."
McCormack suggests owning Time Warner (NYSE: TWC) and reducing positions in DIRECTV (NYSE: DTV)
"Time Warner Cable: We expect to see further improvement in Time Warner Cable’s revenue per home passed metrics, which will drive opportunities for further expansion of the capital return program. In our view, the shares are undervalued relative to the opportunity."
"DIRECTV: DIRECTV’s 4Q results highlighted many of our concerns, and we continue to recommend investors reduce positions in the shares. We believe investors are paying a large premium for an intertwined extraordinary buyback and Latam EBITDA growth story; meanwhile, we expect the trends of the U.S. business to deteriorate meaningfully."
Analyst, Mike McCormack, said, "Going into 4Q results, we saw opportunities for stock selection. As we progress into 2012, our picks remain the same, with TWC as our favorite long. At a sector level, we saw trends indicating a more decisive
separation in Cable and DBS trends."
McCormack suggests owning Time Warner (NYSE: TWC) and reducing positions in DIRECTV (NYSE: DTV)
"Time Warner Cable: We expect to see further improvement in Time Warner Cable’s revenue per home passed metrics, which will drive opportunities for further expansion of the capital return program. In our view, the shares are undervalued relative to the opportunity."
"DIRECTV: DIRECTV’s 4Q results highlighted many of our concerns, and we continue to recommend investors reduce positions in the shares. We believe investors are paying a large premium for an intertwined extraordinary buyback and Latam EBITDA growth story; meanwhile, we expect the trends of the U.S. business to deteriorate meaningfully."
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