Canaccord Genuity Maintains a 'Buy' on DIRECTV (DTV); Positive LatAm Investor Day Reverses Direction
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Price: $58.01 --0%
Rating Summary:
5 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
Rating Summary:
5 Buy, 22 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 17
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Canaccord Genuity maintains a 'Buy' on DIRECTV (NASDAQ: DTV) price target of $68.00.
Analyst, Thomas Eagan, said, "DTV’s reversal yesterday (up 1.4% after being down with the market) was likely due to comments made by Bruce Churchill, president of DTV Latin America, that Q1/12 trends in both subs and financials were better than expected. Similarly, we expect F2012 operations will outperform the company’s guidance (20% subscriber and revenue growth), which we believe is conservative. In speaking about the US business, DTV CEO Mike White indicated that sub trends were in line with the comments he made in February (at the Q4/11 earnings call): essentially, that trends were improving with churn levels declining. Mr. White also said Q1/12 programming costs were slightly higher than expected. While that’s a slight concern, we believe the Street’s bigger concern is sub growth and we believe the Q1/12 CON estimate of 85k net adds will be exceeded. Our estimate is 114k."
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 $49.49 yesterday.
Analyst, Thomas Eagan, said, "DTV’s reversal yesterday (up 1.4% after being down with the market) was likely due to comments made by Bruce Churchill, president of DTV Latin America, that Q1/12 trends in both subs and financials were better than expected. Similarly, we expect F2012 operations will outperform the company’s guidance (20% subscriber and revenue growth), which we believe is conservative. In speaking about the US business, DTV CEO Mike White indicated that sub trends were in line with the comments he made in February (at the Q4/11 earnings call): essentially, that trends were improving with churn levels declining. Mr. White also said Q1/12 programming costs were slightly higher than expected. While that’s a slight concern, we believe the Street’s bigger concern is sub growth and we believe the Q1/12 CON estimate of 85k net adds will be exceeded. Our estimate is 114k."
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 $49.49 yesterday.
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