Nomura Securities Maintains a 'Buy' on Virgin Media (VMED); Q3 First Look
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Price: $51.00 --0%
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Nomura Securities maintains a 'Buy' on Virgin Media (NASDAQ: VMED) price target of $33.50.
Nomura analyst, Henrik Nyblom, said, "3Q results were broadly in line, Group revenues (+2.2% y-o-y) came in 0.8% below our and consensus forecasts. The shortfall was down to weaker performance in B2B and Cable revenues, while Mobile was better than expected. OCF (+2.8% y-o-y) was in line with our forecasts, resulting in a strong 39.8% margin. VMED added 24k new broadband subscriptions in Q3, ahead of our 21k forecast. TiVo continues to gain strong traction. Additionally, VMED has announced an incremental GBP 250m buyback. This is over and above the GBP 625m announced at the end of July."
For more ratings news on Virgin Media click here and for the rating history of Virgin Media click here.
Shares of Virgin Media closed at $27.89 yesterday.
Nomura analyst, Henrik Nyblom, said, "3Q results were broadly in line, Group revenues (+2.2% y-o-y) came in 0.8% below our and consensus forecasts. The shortfall was down to weaker performance in B2B and Cable revenues, while Mobile was better than expected. OCF (+2.8% y-o-y) was in line with our forecasts, resulting in a strong 39.8% margin. VMED added 24k new broadband subscriptions in Q3, ahead of our 21k forecast. TiVo continues to gain strong traction. Additionally, VMED has announced an incremental GBP 250m buyback. This is over and above the GBP 625m announced at the end of July."
For more ratings news on Virgin Media click here and for the rating history of Virgin Media click here.
Shares of Virgin Media closed at $27.89 yesterday.
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