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DIS

Disney

$107.73

0.295 (0.27%)

, FOX

21st Century Fox

$33.60

0.33 (0.99%)

15:57
12/13/17
12/13
15:57
12/13/17
15:57

Disney, Fox deal may be a near-term positive for Netflix, BTIG says

Commenting on Disney's (DIS) deal with Fox (FOX; FOXA) and its potential implications, BTIG's Richard Greenfield notes that the knee jerk reaction he hears across the investment world is the former is buying the later to build their "Netflix killer." Greenfield "strongly disagrees" with this viewpoint, saying that if Disney wanted to build a Netflix competitor it should be eliminating its stock buyback and aggressively investing in content that has no legacy media strings attached. Further, the Disney/Fox transaction is likely a near-to-intermediate term positive for Netflix, he argues, adding that both companies will be tied up in a 12 month or more regulatory review process with thousands of executives in limbo pending the closing of the transaction.

DIS

Disney

$107.73

0.295 (0.27%)

FOX

21st Century Fox

$33.60

0.33 (0.99%)

FOXA

21st Century Fox

$34.10

0.44 (1.31%)

NFLX

Netflix

$185.73

-0.49 (-0.26%)

DIS Disney
$107.73

0.295 (0.27%)

12/07/17
JEFF
12/07/17
NO CHANGE
JEFF
Jefferies sees Disney, not Comcast, as more likely Fox suitor
Amid press reports that suggest Comcast (CMCSA) continues to pursue 21st Century Fox (FOXA) along with Disney (DIS), Jefferies analyst John Janedis says he sees Disney as the more likely suitor given the regulatory concerns with a Comcast deal. The analyst believes Comcast would need to offer a premium to Disney for Fox to compensate for more regulatory risk. However, assuming Comcast has interest in the same assets as Disney, and using the same $66B value for Fox's assets, the analyst estimates the deal would be high-single-digit dilutive to Comcast earnings, versus neutral to Disney due to relative tax rates.
12/11/17
LOOP
12/11/17
NO CHANGE
Target $106
LOOP
Buy
Disney's "Thor" film exceeded expectations, says Loop Capital
Loop Capital analyst David Miller raised his price target on Disney to $106 from $103 and nudged up his estimates for Q1 EPS to $1.65 on "stellar" performance of Thor Ragnorak. Miller says his initial pre-release forecast was for box office total to amount to $725M, but the film is tracking to reach $900M. The analyst points out that the higher price target remains independent of the upcoming release of Last Jedi, forecasting $658M in Q1 sales and all other proceeds going into Q2. Miller keeps his Buy rating on Disney.
12/11/17
BTIG
12/11/17
NO CHANGE
BTIG
BTIG says Comcast could pay 'significantly' more for Fox assets than Disney
BTIG analyst Richard Greenfield said earlier in a note to investors that he believes Comcast (CMCSA) could pay "significantly more" for the assets that Fox (FOXA) is reportedly looking to sell than could Disney (DIS). He also believes Comcast could have a better chance of securing regulatory approval for a deal if they are willing to spin off all of the regional sports networks that a combined entity would own.
12/13/17
FBNS
12/13/17
NO CHANGE
FBNS
FBN says Fox could be worth over $42 per share with Disney deal
With multiple media report indicating that Disney (DIS) is close to finalizing a deal to buy most of 21st Century Fox's (FOX) assets and operations, FBN Securities analyst Robert Routh is estimating that Fox shares could have a "real value" of $42.46 based on what has been reported on the likely deal. This estimate is before considering taxes and taking into account that Disney shares will likely rise after a deal is confirmed, said Routh, who does not officially cover either Disney or Fox.
FOX 21st Century Fox
$33.60

0.33 (0.99%)

10/30/17
OTRG
10/30/17
UPGRADE
OTRG
Positive
21st Century Fox upgraded to Positive from Mixed at OTR Global
11/10/17
BERN
11/10/17
NO CHANGE
Target $101
BERN
Market Perform
Disney deal for Fox wouldn't solve underlying problems, says Bernstein
Bernstein analyst Todd Juenger noted that Disney (DIS) has gone from a situation where reported EPS was going up but its stock price was going down to one where EPS is going down but the stock has been going up a bit driven by M&A speculation. However, he contends that the current round of renewed M&A speculation is happening because underlying fundamentals are "so bad" and even if a deal for Disney to buy Fox (FOXA) assets happens it wouldn't solve the underlying problems. He also thinks the chances of a Disney-Fox deal as currently described are "very low." Juenger maintains a Market Perform rating and $101 price target on Disney shares.
FOXA 21st Century Fox
$34.10

0.44 (1.31%)

12/07/17
WELS
12/07/17
NO CHANGE
Target $40
WELS
Outperform
21st Century Fox price target raised to $40 from $34 at Wells Fargo
Wells Fargo analyst Marci Ryvicker raised her price target for 21st Century Fox (FOXA) saying she believes it would be worth as much per share in a Disney (DIS) deal. The analyst reiterates an Outperform rating on 21st Century Fox shares.
NFLX Netflix
$185.73

-0.49 (-0.26%)

12/05/17
DADA
12/05/17
NO CHANGE
Target $237
DADA
Buy
Netflix Q4 to be supported by The Crown and Stranger Things, says DA Davidson
DA Davidson analyst David Miller is positive on the Netflix streaming release of The Crown this Friday, saying the show is a "visually-stunning biographical drama of the British monarchy beginning with Queen Elizabeth's ascension to the throne at age 25". Miller says the show should resonate internationally due to the fact that that 2.2 billion people live in the ex-British commonwealth nations, including portions of the Middle East and Africa. The analyst also notes that the second season of Stranger Things serves as a "core catalyst", modeling 1.29M Q4 net subscriber additions versus prior forecast of 1.25M. Miller keeps his Buy rating and $237 price target on Netflix.
12/05/17
EVER
12/05/17
INITIATION
Target $210
EVER
In Line
Netflix initiated with an In Line at Evercore ISI
Evercore ISI analyst Anthony DiClemente initiated Netflix with In Line rating and a price target of $210. DiClemente says that while the growth of internet TV has been massive and the company has had a "huge head start", he questions whether the subscription price increase can drive top-side growth given that US penetration is maturing. The analyst also calls valuation "the elephant in the room", with his bear case scenario analysis putting stock price as low as $130.
12/06/17
PIPR
12/06/17
NO CHANGE
Target $240
PIPR
Overweight
Piper sees high likelihood of Q4 subscriber upside for Netflix
Piper Jaffray analyst Michael Olson says his analysis of Netflix search trends suggests upside potential for both international and domestic subscriber in Q4. The analyst models 9.3% year-over-year domestic sub growth in Q4 while his search index points to 14.8% growth. For international, Olson models 38.7% year-over-year sub growth while his index points to 54.5% growth. The index is directionally positive and shows a high likelihood of Q4 subscriber upside for Netflix, Olson tells investors in a research note. He maintains an Overweight rating on the shares with a $240 price target.
12/06/17
12/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alibaba (BABA) initiated with a Positive at Susquehanna. 2. WWE (WWE) initiated with an Overweight at JPMorgan. 3. Facebook (FB), Alphabet Class A (GOOGL), and Amazon.com (AMZN) were initiated with an Outperform at Evercore ISI, while Netflix (NFLX) was initiated with an In Line. 4. Applied Materials (AMAT) initiated with an Outperform at Wells Fargo. 5. Delphi Technologies (DLPH) was initiated with an Overweight at Barclays while being initiated with a Neutral at BofA/Merrill and UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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EXEL

Exelixis

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Exelixis and Ipsen co-host a financial community briefing »

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TIVO

TiVo

$14.50

0.1 (0.69%)

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Alphabet Class A

$1,139.10

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SNAP

Snap

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Alphabet

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TWTR

Twitter

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DIS

Disney

$111.57

-0.4 (-0.36%)

, VIA

Viacom

$37.85

0.95 (2.57%)

10:25
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DIS

Disney

$111.57

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VIA

Viacom

$37.85

0.95 (2.57%)

TWX

Time Warner

$92.36

0.1916 (0.21%)

CMCSA

Comcast

$41.68

-0.14 (-0.33%)

SPB

Spectrum Brands

$123.47

-1.69 (-1.35%)

DISH

Dish

$45.45

-2.54 (-5.29%)

NFLX

Netflix

$217.50

-4.03 (-1.82%)

AMZN

Amazon.com

$1,295.00

-9.86 (-0.76%)

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MDXG

MiMedx

$14.09

0.15 (1.08%)

10:25
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Conference/Events
MiMedx to hold a conference call »

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Morgan Stanley healthcare analysts hold an analyst/industry conference call »

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JNPR

Juniper

$28.15

-0.52 (-1.81%)

10:20
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10:20
Options
Call buyer on weakness in Juniper Networks »

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General news
Today's U.S. reports »

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ERIC

Ericsson

$7.34

0.4 (5.76%)

, BCE

BCE

$46.36

-0.1301 (-0.28%)

10:18
01/18/18
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01/18/18
10:18
Hot Stocks
Ericsson to power Bell Canada's next-generation multiscreen TV services »

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ERIC

Ericsson

$7.34

0.4 (5.76%)

BCE

BCE

$46.36

-0.1301 (-0.28%)

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$NSD

NASDAQ Market Internals

10:17
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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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AMZN

Amazon.com

$1,295.00

-9.86 (-0.76%)

10:16
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Amazon names 20 finalists in race for second headquarters »

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General news
Breaking General news story  »

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TLT

iShares 20+ Year Treasury Bond Fund

$124.87

-0.17 (-0.14%)

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LGF.A

Lionsgate

$33.69

1.41 (4.37%)

, CBS

CBS

$59.73

0.83 (1.41%)

10:05
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Lionsgate jumps after report on potential takeover interest »

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LGF.A

Lionsgate

$33.69

1.41 (4.37%)

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CBS

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VIA

Viacom

$37.85

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VIAB

Viacom

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0.58 (1.85%)

AMZN

Amazon.com

$1,295.00

-9.86 (-0.76%)

VZ

Verizon

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0.955 (1.85%)

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ADM

Archer Daniels

$40.66

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TIVO

TiVo

$14.50

0.1 (0.69%)

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Alphabet

$1,131.98

10.22 (0.91%)

10:04
01/18/18
01/18
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10:04
Recommendations
TiVo, Alphabet, Alphabet Class A analyst commentary  »

TiVo in 'great…

TIVO

TiVo

$14.50

0.1 (0.69%)

GOOG

Alphabet

$1,131.98

10.22 (0.91%)

GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

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TEVA

Teva

$20.63

-0.85 (-3.96%)

, MYL

Mylan

$46.78

0.14 (0.30%)

10:03
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Periodicals
Hospitals plan nonprofit generic drug company, NY Times says »

Some of the…

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Teva

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Mylan

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ENDP

Endo

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NVS

Novartis

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CMTL

Comtech

$21.69

0.29 (1.36%)

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Comtech receives $3.8M of orders from Middle East service provider »

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MARA

Marathon Patent Group

$3.47

-0.12 (-3.34%)

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Marathon Patent calls active as shares rally »

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10:00
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General news
U.S. corporate bond update: a number of deals are slated »

U.S. corporate bond…

ONCS

OncoSec

$1.85

0.02 (1.09%)

09:58
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OncoSec TBNC news 'interesting,' but 'hard to interpret,' says Feuerstein »

Adam Feuerstein of STAT…

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AES

AES Corp.

$11.61

0.89 (8.30%)

, WYN

Wyndham

$123.46

6.33 (5.40%)

09:55
01/18/18
01/18
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09:55
Options
Early notable gainers among liquid option names on January 18th »

Notable gainers among…

AES

AES Corp.

$11.61

0.89 (8.30%)

WYN

Wyndham

$123.46

6.33 (5.40%)

MTB

M&T Bank

$186.65

7.435 (4.15%)

PPG

PPG

$119.61

5.11 (4.46%)

RL

Ralph Lauren

$109.34

3.285 (3.10%)

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