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TRCO

Tribune Media

$38.12

-0.29 (-0.76%)

, SBGI

Sinclair Broadcast

$40.35

-0.05 (-0.12%)

18:38
04/20/17
04/20
18:38
04/20/17
18:38

FCC eases TV ownership rule, Bloomberg reports

The FCC voted today to ease a rule on TV station ownership, reports Bloomberg, citing public notices. The publication argues that the move could "open a door" to deals such as Sinclair Broadcast's (SBGI) pursuit of Tribune Media (TRCO), and adds "room to grow" for companies such as CBS (CBS), Nexstar (NXST) and Comcast (CMCSA). Reference Link

TRCO

Tribune Media

$38.12

-0.29 (-0.76%)

SBGI

Sinclair Broadcast

$40.35

-0.05 (-0.12%)

CBS

CBS

$68.67

0.1 (0.15%)

NXST

Nexstar

$68.80

-0.55 (-0.79%)

CMCSA

Comcast

$38.00

0.47 (1.25%)

CMCSK

Comcast

  • 22

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    Apr

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    Apr

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    May

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    May

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    Jun

TRCO Tribune Media
$38.12

-0.29 (-0.76%)

04/20/17
WELS
04/20/17
DOWNGRADE
WELS
Market Perform
Tribune Media downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Marci Ryvicker downgraded Tribune Media to Market Perform saying she no longer believes the company is going to be sold at a share price materially higher than current levels. Ryvicker lowered her estimates to reflect a tougher Q1 and cut her price target range for the shares to $38-$40 from $40-$44.
04/19/17
WELS
04/19/17
DOWNGRADE
WELS
Market Perform
Tribune Media downgraded to Market Perform from Outperform at Wells Fargo
03/02/17
WELS
03/02/17
NO CHANGE
WELS
Tribune Media worth $37-$51 per share, says Wells Fargo
After Reuters reported that Sinclair Broadcast (SBGI) is interested in Tribune's (TRCO) assets, Wells Fargo estimates that the sum of the parts valuation of Tribune is $37-$51 per share. The firm says that the most likely scenario is that Tribune will sell WGNA and some of its stations to Sinclair. Wells raised its price target on Tribune to $40-$44 from $32-$34 and keeps an Outperform rating on the shares.
06/01/16
06/01/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nike (NKE) downgraded to Neutral from Buy at BofA/Merrill and to Equal Weight from Overweight at Morgan Stanley. Morgan Stanley analysts led by Jay Sole saying the U.S. athletic apparel category has weakened and competition is increasing and BofA/Merrill analyst Robert Ohmes arguing the he believes Nike is losing share in North American for the first time since 2010 and Under Armour (UA) and adidas are now leading market share growth. 2. Tribune Media (TRCO) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Ryan Fiftal saying shares are up 20% year-to-date but local TV stations have underperformed national and TV comps, skewing risk/reward to the downside. 3. Celgene (CELG) downgraded to Neutral from Buy at BTIG with analyst Dane Leone saying he is unsure of upside to current consensus estimates as the bulk of company sales growth through 2020 is reliant on Revlimid penetrating Non-Hodgkin Lymphoma's, and a number of new promising therapies are under development for B-cell malignancies. 4. Medtronic (MDT) downgraded to Neutral from Buy at BTIG with analyst Sean Lavin basing the downgrade on full valuation and recent operating margin misses that are pressuring forward estimates. 5. Patterson-UTI (PTEN) and Precision Drilling (PDS) downgraded to Underperform from Neutral at Credit Suisse with analyst James Wicklund saying current spot market dayrates will likely fall when incremental rigs go to work. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SBGI Sinclair Broadcast
$40.35

-0.05 (-0.12%)

01/25/17
SPHN
01/25/17
NO CHANGE
SPHN
FCC Chairman change positive for Nexstar, Sinclair Broadcast, says Stephens
Stephens analyst Kyle Evans notes that President Donald Trump named Ajit Pai the new Federal Communications Commission Chairman, which he sees as a positive for TV broadcasters, especially Nexstar (NXST) and Sinclair Broadcast (SBGI) as they would be the most likely to benefit if the FCC relaxed M&A restrictions.
11/03/16
SPHN
11/03/16
UPGRADE
SPHN
Overweight
Sinclair Broadcast upgraded to Overweight from Equal Weight at Stephens
CBS CBS
$68.67

0.1 (0.15%)

04/04/17
RSBL
04/04/17
INITIATION
Target $80
RSBL
Buy
CBS initiated with a Buy at Rosenblatt
Rosenblatt started CBS with a Buy rating and $80 price target.
02/17/17
DBAB
02/17/17
NO CHANGE
Target $80
DBAB
Buy
CBS price target raised to $80 from $68 at Deutsche Bank
Deutsche Bank analyst Bryan Kraft raised his price target for CBS to $80 citing fundamentals and a lower tax rate following the company's Q4 results. CBS continues to be well positioned in the evolving media landscape, the analyst contends.
02/16/17
JPMS
02/16/17
NO CHANGE
Target $75
JPMS
Overweight
CBS price target raised to $75 from $69 at JPMorgan
JPMorgan analyst Alexia Quadrani raised her price target for CBS to $75 saying the company posted "another strong quarter." The analyst remains confident that CBS will deliver positive top- and bottom-line growth before returning to a "more robust growth profile" in 2018. She keeps an Overweight rating on the shares.
02/08/17
BARD
02/08/17
NO CHANGE
Target $960
BARD
Outperform
Baird sees Disney deal supporting Google's subscription growth
Baird analyst Colin Sebastian believes Alphabet's (GOOG, GOOGL) YouTube reported licensing agreement with Disney (DIS) represents a more aggressive push by the company into long-form/original video content. Recent reports suggest Disney has reached a licensing agreement with YouTube for its family of networks as part of a broader YouTube streaming offering to be announced later this year, Sebastian tells investors in a research note. With Disney possibly joining CBS (CBS), which Alphabet inked a deal with late last year, YouTube's live stream bundle could help accelerate the migration of offline ad-budgets toward digital platforms, the analyst contends. He believes such an acceleration would be a "key positive" and drive "material growth" in Google's subscription business. Sebastian has an Outperform rating on Alphabet with a $960 price target.
NXST Nexstar
$68.80

-0.55 (-0.79%)

01/18/17
WEDB
01/18/17
NO CHANGE
WEDB
Nexstar price target raised to $75 from $66 at Wedbush
Wedbush analyst James Dix raised his price target on Nexstar citing the company's guidance and what he sees as its "favorable regulatory outlook." The analyst expects the company to benefit from deregulation going forward, and he keeps an Outperform rating on the shares.
03/01/17
BNCH
03/01/17
NO CHANGE
Target $89
BNCH
Buy
Nexstar price target raised to $89 on M&A potential at Benchmark
Benchmark analyst Daniel Kurnos said Nexstar reported "solid" Q4 results and "perhaps more importantly" management was clear they plan to participate in the expected next wave of consolidation "aggressively," he tells investors in a post-earnings research note. The analyst, who expects accretive deals to continue to drive shares higher this year, raised his price target on Nexstar to $89 from $70 and keeps a Buy rating on the stock.
03/14/17
RBCM
03/14/17
INITIATION
Target $83
RBCM
Outperform
Nexstar initiated with an Outperform at RBC Capital
RBC Capital analyst Leo Kulp started Nexstar Media Group with an Outperform rating and $83 price target.
CMCSA Comcast
$38.00

0.47 (1.25%)

04/17/17
JPMS
04/17/17
NO CHANGE
JPMS
Overweight
JPMorgan not reading into TiVo, Comcast ITC ruling change
JPMorgan analyst Sterling Auty does not believe there is anything to read into from the International Trade Commission preliminary judgment in the TiVo (TIVO), Comcast (CMCSA) case being pushed out from the end of April to the end of May. This is likely procedural now that the ITC has finished another case and can focus its attention on TiVo/Comcast, Auty tells investors in a research note. He keeps an Overweight rating on TiVo.
04/18/17
RHCO
04/18/17
INITIATION
Target $45
RHCO
Buy
Comcast initiated with a Buy at SunTrust
SunTrust analyst Greg Miller started Comcast with a Buy rating and $45 price target. The analyst prefers cable names over wireless given a "more supportable growth outlook and greater potential to preserve margins."
04/20/17
WELS
04/20/17
NO CHANGE
WELS
Comcast shares attractive into Q1 results, says Wells Fargo
Wells Fargo says that Comcast's stock is very attractive ahead of its Q1 results. The firm increased its Q1 cable network and film estimates for the company, and raised its overall Q1 estimates above consensus levels. It keeps an Outperform rating on the shares.
04/20/17
BTIG
04/20/17
NO CHANGE
BTIG
Comcast should try 'hail mary' Charter acquisition, says BTIG
BTIG analyst Rich Greenfield makes the case that Comcast's (CMCSA) "window for M&A is simply to enticing too ignore" and lays out six potential targets that would "truly be transformative," with his top pick among the group being Charter (CHTR). A combination of Charter with Comcast would have "all of the benefits of the legacy Time Warner Cable deal with even more scale" and even though odds of approval are no better than 50/50, it is worth throwing that "hail-mary," Greenfield tells investors. The other five possible deals that Greenfield makes the case for are Disney (DIS), Verizon (VZ), Netflix (NFLX), T-Mobile (TMUS) and Snap Inc.'s (SNAP) Snapchat.
CMCSK Comcast

01/26/17
OPCO
01/26/17
NO CHANGE
OPCO
Verizon deal for Charter would make strategic sense, says Oppenheimer
Following multiple media reports indicating that Verizon (VZ) is exploring the potential for a combination with Charter Communications (CHTR), Oppenheimer analyst Timothy Horan said such a deal would make strategic sense as owning a cable company would allow Verizon to bundle wireless and wireline to create a "lower-cost and better" 5G offering. Valuation would be a major sticking point, however, Horan tells investors. If such a deal were to happen, it would be "very positive" for T-Mobile (TMUS) as it would make a theoretical deal with Sprint (S) easier to get done or it could make Comcast (CMCSA) more likely to look at a takeover of the wireless company, added the analyst. However, DISH's (DISH) strategic options may be more limited following a Verizon-Charter tie-up, Horan added.
01/27/17
UBSW
01/27/17
NO CHANGE
Target $84
UBSW
Buy
Comcast price target raised to $84 from $75 at UBS
UBS analyst John Hodulik raised his price target on Comcast to $84 from $75 following its stronger than expected Q4 results. The analyst cited its solid EBITDA growth, expectations for continued revenue growth, its dividend yield, and stock buybacks. Hodulik reiterated his Buy rating on Comcast shares.
02/03/17
OPCO
02/03/17
NO CHANGE
OPCO
Content/application acquisitions more likely for Verizon, says Oppenheimer
Oppenheimer analyst Timothy Horan says that while he does see a merger with Charter (CHTR) and especially with Comcast (CMCSA) working financially, he believes Verizon (VZ) has its sights set on becoming a platform for digital content/apps monetized with programmatic advertising. This, combined with using wireless technologies to replace wireline broadband, could be "very disruptive to the cable industry," he adds. The analyst sees further acquisitions of content/application companies as more likely for Verizon.

TODAY'S FREE FLY STORIES

NXTM

NxStage Medical

$23.46

0.13 (0.56%)

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BL

BlackLine

$37.80

-0.26 (-0.68%)

20:56
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ULTI

Ultimate Software

$221.91

-0.25 (-0.11%)

20:56
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CRM

Salesforce

$88.11

-0.51 (-0.58%)

20:56
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Initiation
Salesforce initiated at SunTrust »

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EVBG

Everbridge

$24.66

-0.3 (-1.20%)

20:56
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Initiation
Everbridge initiated at SunTrust »

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RNG

RingCentral

$37.65

-1 (-2.59%)

20:56
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Initiation
RingCentral initiated at SunTrust »

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WK

Workiva

20:56
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Initiation
Workiva initiated at SunTrust »

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HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:56
06/26/17
06/26
20:56
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20:56
Initiation
HubSpot initiated at SunTrust »

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HUBS

HubSpot

$68.20

-0.7 (-1.02%)

20:55
06/26/17
06/26
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Initiation
HubSpot initiated at SunTrust »

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  • 28

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QTWO

Q2 Holdings

20:55
06/26/17
06/26
20:55
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20:55
Initiation
Q2 Holdings initiated at SunTrust »

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  • 27

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INST

Instructure

$29.55

0.4 (1.37%)

20:55
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06/26
20:55
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Initiation
Instructure initiated at SunTrust »

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  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

MANH

Manhattan Associates

20:55
06/26/17
06/26
20:55
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Initiation
Manhattan Associates initiated at SunTrust »

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PCTY

Paylocity

$47.39

-1.65 (-3.36%)

20:55
06/26/17
06/26
20:55
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20:55
Initiation
Paylocity initiated at SunTrust »

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  • 28

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SHOP

Shopify

$92.04

-2.44 (-2.58%)

20:55
06/26/17
06/26
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Initiation
Shopify initiated at SunTrust »

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LH

LabCorp

$152.30

0.68 (0.45%)

20:10
06/26/17
06/26
20:10
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20:10
Downgrade
LabCorp rating change at KeyBanc »

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ATXI

Avenue Therapeutics

20:06
06/26/17
06/26
20:06
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20:06
Syndicate
Avenue Therapeutics 5.5M share IPO priced at $6.00 »

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  • 27

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NXPI

NXP Semiconductors

$109.73

-0.25 (-0.23%)

20:05
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NXP Semi collaborates with Shanghai Unicom, roam2free on eSIM solution »

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  • 26

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PDCE

PDC Energy

$42.88

-1.84 (-4.11%)

19:21
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PDC Energy CEO 'disappointed' with Clean Air Act complaint »

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  • 26

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MRIN

Marin Software

$1.18

0.025 (2.17%)

19:17
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GM

General Motors

$34.52

0.32 (0.94%)

19:15
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Earnings
General Motors: Previous FY17 EPS view unchanged »

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GM

General Motors

$34.52

0.32 (0.94%)

19:04
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General Motors lowers view of 2017 U.S. car industry »

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BLKB

Blackbaud

$89.25

-0.25 (-0.28%)

, CST

CST Brands

$48.54

0.18 (0.37%)

18:56
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BLKB

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CST

CST Brands

$48.54

0.18 (0.37%)

NSA

National Storage

$22.63

0.22 (0.98%)

ANCUF

Alimentation Couche-Tard

$48.08

1.9887 (4.31%)

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GM

General Motors

$34.52

0.32 (0.94%)

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06/26
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General Motors raises expected Opel sale charge to $5.5B »

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  • 26

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WMT

Wal-Mart

$75.50

0.66 (0.88%)

18:43
06/26/17
06/26
18:43
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18:43
Periodicals
Wal-Mart sued for wrongful death of Illinois Uber driver, Reuters reports »

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