Shares of Virgin Media (VMED) Tap Intraday Highs After Positive Analyst Comments

Shares of Virgin Media (Nasdaq: VMED) are trading at intraday high's after positive comments from Canaccord Genuity analyst, Thomas Eagan.

Eagan reiterated his 'Buy' rating on VMED and said, "VMED paying TV base not that vulnerable to YouView launch. The turnover of VMED’s video sub base started several quarters ago with the 1) churning out of the non-paying video subs and 2) the rapid growth of the TIVO (Nasdaq: TIVO) service. We therefore expect we’ll see a continuation (perhaps a slight pick up) of the same with the YouView launch. But because the bulk of VMED’s video churn is among the free TV tier, we do not expect an impact to ARPU or revenue."

Overall, Eagan feels Virgin can continue taking market share among paying video subscribers.

To see more ratings on VMED, Click Here

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