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Fly News Breaks for September 15, 2015
DIS
Sep 15, 2015 | 08:32 EDT
Morgan Stanley analyst Benjamin Swinburne believes continued skinny pay-TV bundle growth, many without ESPN, will continue to pressure cable network growth. Swinburne estimates a majority of "skinny" bundle offerings will not include ESPN, Disney Channel, and ABC Family and grow to 3.5M in FY16-FY17. The analyst estimates a $200M-$300M hit in FY16 from cord-shaving and sees further pressures from FX headwinds. The firm rates shares an Equal Weight with a $108 price target.