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FOXA

21st Century Fox

$36.54

0.68 (1.90%)

, DIS

Disney

$112.28

0.48 (0.43%)

06:01
01/04/18
01/04
06:01
01/04/18
06:01

Media sector upgraded to Over Weight from Market Weight at Wells Fargo

Wells Fargo analyst Marci Ryvicker upgraded the Media sector to Over Weight from Market Weight citing her positive views on shares of 21st Century Fox (FOXA), Disney (DIS), CBS (CBS) and AMC Networks (AMCX). Fox is the analyst's top near-term pick in the space, with Disney "a close second."

FOXA

21st Century Fox

$36.54

0.68 (1.90%)

DIS

Disney

$112.28

0.48 (0.43%)

CBS

CBS

$59.20

0.03 (0.05%)

AMCX

AMC Networks

$51.70

-2.43 (-4.49%)

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    Jan

  • 15

    Feb

FOXA 21st Century Fox
$36.54

0.68 (1.90%)

01/03/18
RBCM
01/03/18
NO CHANGE
Target $43
RBCM
Outperform
21st Century Fox price target raised to $43 from $34 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on 21st Century Fox (FOXA) to $43 and kept his Outperform rating in the wake of the asset sale to Disney (DIS). Cahall says the valuation on the SpinCo implies a 20% free cash flow yield relative to 7% at its peer CBS (CBS), and expects this discount to be corrected with an upside in the stock once the deal is fully priced in. The analyst also sees the immediate outlook for the company's revenue growth as "solid".
12/22/17
JEFF
12/22/17
NO CHANGE
Target $43
JEFF
Buy
21st Century Fox price target raised to $43 from $35 at Jefferies
Jefferies analyst John Janedis raised his price target for 21st Century Fox to $43 saying he continues to see upside in the shares from the Disney (DIS) deal and tax reform. The analyst values the Disney shares at $30 and the New FOX in the range of $13-$15 per share. He sees "considerable upside" from current levels and keeps a Buy rating on Fox.
01/02/18
LOOP
01/02/18
NO CHANGE
Target $241
LOOP
Buy
Netflix is 'Best Idea for 2018', says Loop Capital
Loop Capital analyst David Miller calls Netflix (NFLX) his Best Idea for 2018, keeping a Buy rating on the stock while nudging his price target to $241 from $237. Miller says the company will follow up on last year's "notable" subscriber growth with "true operating leverage" this year. The analyst also contends that Disney's (DIS) acquisition of 21st Century Fox (FOXA) entertainment assets does not necessarily make it a winner in the Over-The-Top space, since it may not launch a competitive service until mid-2019.
01/03/18
RBCM
01/03/18
NO CHANGE
Target $135
RBCM
Top Pick
Disney price target raised to $135 from $125 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on Disney (DIS) to $135 and kept his Top Pick rating. Cahall says the company deserves to trade at a premium to the market based on its insulation to ecosystem challenges, anticipated "major" tax reform benefits, and evolving content with the 21st Century Fox (FOXA) deal. The analyst adds that the company's Consumer Products, Studio, and Parks segments will continue to provide years of steady cash flow and growth.
DIS Disney
$112.28

0.48 (0.43%)

01/03/18
RSBL
01/03/18
UPGRADE
Target $130
RSBL
Buy
Disney upgraded to Buy from Neutral at Rosenblatt
Rosenblatt analyst Alan Gould upgraded Disney to Buy from Neutral and raised his price target on the shares to $130 from $115.
01/02/18
01/02/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. L Brands (LB) upgraded to Outperform from Neutral at Baird with analyst Mark Altschwagern saying he believes the company is on track to meet or exceed December comparable sales and fourth quarter expectations. 2. Lennar (LEN) upgraded to Outperform from Market Perform at Wells Fargo with analyst Stephen East citing his post-tax reform earnings per share estimate but without the CalAtlantic (CAA) acquisition included. 3. Disney (DIS), Netflix (NFLX), AMC Networks (AMCX), and Discovery (DISCA) were upgraded to Outperform from Neutral at Macquarie. 4. Abbott (ABT) was upgraded to Overweight from Equal Weight at Morgan Stanley and to Overweight from Neutral at JPMorgan. 5. Baxter (BAX) was upgraded to Buy from Neutral at BofA/Merrill and to Overweight from Neutral at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CBS CBS
$59.20

0.03 (0.05%)

12/21/17
LOOP
12/21/17
DOWNGRADE
Target $31
LOOP
Sell
21st Century Fox downgraded to Sell from Hold at Loop Capital
Loop Capital analyst David Miller downgraded 21st Century Fox (FOXA) to Sell citing the stock's rally post the Disney (DIS) deal announcement. The analyst advises Fox shareholders to take profits. At $34.27 per share, the market is affording too high a multiple for the "New Fox" stub equity piece, Miller tells investors in a research note. He believes comparisons to CBS (CBS) are inappropriate given the difference in asset mix between the two companies.
01/02/18
MACQ
01/02/18
DOWNGRADE
MACQ
Underperform
CBS downgraded to Underperform from Neutral at Macquarie
Macquarie analyst Tim Nollen downgraded CBS to Neutral and lowered its price target to $60 from $69 on a more cautious view of TV advertising, changes in consumer viewing habits, and poor NFL performance.
01/03/18
RBCM
01/03/18
NO CHANGE
Target $40
RBCM
Outperform
Lionsgate price target raised to $40 from $36 at RBC Capital
RBC Capital analyst Steven Cahall raised his price target on Lions Gate Entertainment (LGF.B) to $40, calling it his "Top smidcap" for 2018. Cahall says that the company is a "content pureplay", which makes it defensive to changes in the ecosystem, adding that it is also the "most likely acquisition target in the space." The analyst points to reduction in earnings volatility through Starz, which he believes has an upside to its current distribution of 25M subscriptions. While there have been a number of potential suitors that want to own content, Cahall believes CBS (CBS) is the most "logical" one.
AMCX AMC Networks
$51.70

-2.43 (-4.49%)

01/02/18
01/02/18
DOWNGRADE
Target $60

Neutral
AMC Networks downgraded to Neutral at Macquarie
As previously reported, Macquarie downgraded AMC Networks to Neutral from Outperform and lowered its price target to $60 from $70. Analyst Tim Nollen has a more cautious view on advertising due to changing consumer behaviors and expects pressures to exacerbate from declining ratings of the Walking Dead and Fear franchises. Nollen is forecasting slower 2018 earnings growth, before tax reform, and said lapping sub penetration is a high bar to beat.
01/02/18
MACQ
01/02/18
UPGRADE
MACQ
Outperform
AMC Networks upgraded to Outperform from Neutral at Macquarie
10/12/17
10/12/17
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. Wal-Mart (WMT) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Matthew Fassler saying shares have achieved in three months what he had expected in a year on an improvement in sentiment, but not on higher earnings estimates. 2. Monro (MNRO) downgraded to Hold from Buy at Jefferies with analyst Bret Jordan citing expectations the company's earnings growth will slow in 2018 as its focus shifts from acquisitions to improving store-level execution. 3. Diamond Offshore (DO) downgraded to Sell from Neutral at Citi with analyst Scott Gruber saying that if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. 4. Cummins (CMI) downgraded to Neutral following dealer checks at Longbow with analyst Faheem Sabeiha citing a recent truck dealer survey that suggests initial 2018 sales growth is below current industry forecasts, partly due to driver shortage concerns. 5. Disney (DIS), AMC Networks (AMCX), and Viacom (VIA, VIAB) were downgraded to Neutral from Buy at Guggenheim. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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QQQ

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NYMX

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