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CMCSA

Comcast

$32.14

(0.00%)

, CMCSK

Comcast

$0.00

(0.00%)

09:43
05/15/18
05/15
09:43
05/15/18
09:43

Comcast hints rival bid for Fox may be coming, Variety reports

The prospect of Comcast (CMCSA; CMCSK) swooping in on the Disney (DIS)-21st Century Fox (FOXA) takeover agreement has come into focus as the cable giant has begun dropping big hints that a rival bid is in the offing, according to Variety. Meanwhile, CBS (CBS) wants to stop a "shotgun wedding" with Viacom (VIAB) sought by Shari Redstone, via holding company National Amusements, the report noted. Reference Link

CMCSA

Comcast

$32.14

(0.00%)

CMCSK

Comcast

$0.00

(0.00%)

DIS

Disney

$102.58

(0.00%)

FOX

21st Century Fox

$37.28

(0.00%)

FOXA

21st Century Fox

$37.77

(0.00%)

VIA

Viacom

$34.65

(0.00%)

VIAB

Viacom

$28.73

(0.00%)

CMCSA Comcast
$32.14

(0.00%)

04/09/18
NOMU
04/09/18
NO CHANGE
Target $40
NOMU
Neutral
Comcast price target lowed to $40 from $45 at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal lowered his price target for Comcast shares to $40 to reflect reduced buyback expectations. The analyst, however, says the "sky is not falling." The analyst, while continuing to prefer mobile over fixed, views the 15% pullback in Comcast shares as an overreaction. He expects the company to offer investors "some relief" on its Q1 call. Kvaal keeps a Neutral rating on Comcast.
05/08/18
ATLE
05/08/18
DOWNGRADE
ATLE
Neutral
Comcast downgraded to Neutral from Overweight at Atlantic Equities
05/08/18
05/08/18
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. Comcast (CMCSA) downgraded to Neutral from Overweight at Atlantic Equities. 2. Zillow (Z, ZG) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Mahaney citing the recent stock price appreciation. 3. XL Group (XL) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Dwelle saying the company's first quarter earnings did not contain any red flags around the sale of the company to AXA (AXAHY), which is on track to close in late second quarter or in the third quarter. 4. Ionis Pharmaceuticals (IONS) downgraded to In Line from Outperform at Evercore ISI with analyst Josh Schimmer citing the safety concerns around volanesorsen discussed in the latest FDA briefing documents, which also "dismantled the company's claims" that the treatment leads to benefits in pancreatis. 5. Sapiens (SPNS) downgraded to Market Perform from Outperform at William Blair with analyst Justin Furby saying consensus estimates for 2019 could be a "too aggressive." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/10/18
OPCO
05/10/18
NO CHANGE
Target $42
OPCO
Outperform
Comcast acquisition of Fox would make strategic, financial sense, says Oppenheimer
Oppenheimer analyst Timothy Horan notes that press reports stated Comcast (CMCSA) has lined up $60B in financing to make an all-cash offer for Fox's (FOXA) entertainment assets, representing a 15% premium to Disney's (DIS) offer. While he thinks this has caused half the 30% decline in Comcast's stock year to date, the analyst believes it does make strategic and financial sense, and Comcast has a great track record on acquisitions. Horan thinks a joint NBC/Fox is a content powerhouse while expanding the company's presence in Europe through Sky (SKYAY), and slashing OTT video risk. The analyst reiterates an Outperform rating and $42 price target on Comcast's shares.
CMCSK Comcast
$0.00

(0.00%)

02/28/18
02/28/18
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. Celgene (CELG) downgraded to Hold from Buy at SunTrust by analyst Yatin Suneja after the company received a refusal to file letter from the FDA on ozanimod for relapsing forms of multiple sclerosis. Suneja said that following pipeline setbacks in late 2017, ozanimod was central to his "bull thesis to re-accelerate growth" and provide "much needed diversification away from myeloma." Given the delay, he lowered his ozanimod peak sales estimate to $3.5B from $5B. The refusal to file letter could result in a 24-month or longer delay for ozanimod's launch in relapsing forms of multiple sclerosis, Suneja said. 2. Frontier Communications (FTR) downgraded to Hold from Buy at Jefferies by analyst Scott Goldman. With the dividend now suspended and EBITDA stabilization "still a work in progress," the shares have no near-term catalyst, Goldman said. He believes "significant challenges" remain for Frontier following the dividend suspension. 3. Comcast (CMCSA, CMCSK) downgraded to Neutral from Outperform at Macquarie by analyst Amy Young, who cited uncertainty around the M&A playbook and increased net leverage. Young said Comcast's intention to acquire Sky (SKYAY) diversifies its portfolio and increases international revenues to 25% of total from 9% currently, but exposes it to satellite TV, which faces secular pressures. The analyst views the 12x price tag for Sky as high, questions the synergies, and believes the unpredictability could cap near-term upside. 4. e.l.f. Beauty (ELF) downgraded to Market Perform from Outperform at BMO Capital by analyst Shannon Coyne, who cited the "near-term challenges in the mass category" and heightened competition yielding further pressure on results and the stock in the near term. The analyst also points to the management having lowered its expectations for the 3rd time in 6 months, adding that it may take some time for investor confidence to return. Despite the downgrade, the analyst believes that e.l.f "has material white space in existing and new retailers" as well as an "unmatched strong value proposition." 5. Maxim Integrated (MXIM) downgraded to Neutral from Outperform at Macquarie by analyst Srini Pajjuri, who said shares have significantly outperformed the SOX index year-to-date and believes healthy fundamentals are now backed in, combined with some M&A premium. Pajjuri believes further upside is limited on a fundamental basis and believes comps will get tougher in the second half of 2018 and sees risk of higher volatility in Consumer as Samsung GS9 builds fade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/07/18
WELS
03/07/18
NO CHANGE
WELS
Wells Fargo expects bidding war for Sky
Wells Fargo analyst Marci Ryvicker expects a bidding war for Sky (SKYAY). The analyst believes Sky appears to be more accretive to Disney (DIS)-Fox (FOXA) but more strategic for Comcast (CMCSA; CMCSK). Ultimately, Ryvicker thinks the latter with win but not without a fight from Disney/Fox.
03/14/18
MACQ
03/14/18
UPGRADE
MACQ
Outperform
Sky upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Guy Peddy upgraded Sky (SKYAY) to Outperform from Neutral after he raised his FY19/20 and FY20/21 EPS by about 16% due to the lower EPL costs. His valuation analysis suggests the current 1075p offer from 21st Century Fox (FOXA) "materially undervalues" Sky and even Comcast's (CMCSA) indicative offer at 1250p "fractionally undervalues" it, Peddy tells investors. What happens next is up to Comcast and Disney (DIS), as Fox is just an intermediary, he added. Peddy raised his price target on Sky shares to 1450p, as he believes tension between those two could lift the offer price at least 10% above his fair value estimate of 1287p.
DIS Disney
$102.58

(0.00%)

04/30/18
BARD
04/30/18
NO CHANGE
Target $33
BARD
Neutral
Twitter's new partnerships highlight 'growing relevance,' says Baird
Disney's (DIS) and Viacom's (VIAB) announced live content/streaming partnerships with Twitter (TWTR) highlight Twitter's "growing relevance as a distribution platform," Baird analyst Colin Sebastian tells investors in a research note. He believes the partnerships should provide tailwinds for Twitter's video advertising business. Video accounts for greater than 50% of Twitter ad revenue and is its fastest growing ad format, Sebastian points out. The analyst says Disney and Viacom represent two of the company's biggest partnership wins to-date. He keeps a Neutral rating on Twitter with a $30 price target. The stock closed the trading day up 4.5% to $30.31.
05/01/18
MSCO
05/01/18
NO CHANGE
Target $130
MSCO
Overweight
Disney trades at 'historic discount' while building out OTT, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne believes Disney's (DIS) new segment presentation could benefit shares by highlighting Disney's Over-the-top, or OTT, opportunity and providing visibility into the earnings power of its core businesses. If Fox (FOXA) is included and Hulu is consolidated, Swinburne estimates Disney's OTT and Direct-to-consumer businesses grow to roughly $6.5B in gross annual revenues by FY20, while noting that the stock is currently trading at a historical discount to the S&P 500. He maintains an Overweight rating and $130 price target on Disney shares.
05/09/18
MSCO
05/09/18
NO CHANGE
Target $130
MSCO
Overweight
Morgan Stanley says Disney's Q2 showcases strong profit potential of 'IP' units
Morgan Stanley analyst Benjamin Swinburne said Disney's Q2 results showcase the strong profit growth potential of the company's intellectual property, or "IP," driven segments, namely the Film and Parks units. The better than expected results also highlight improvement at core Media Networks despite some modest dilution from OTT investments, added Swinburne, who keeps an Overweight rating and $130 price target on Disney shares.
FOX 21st Century Fox
$37.28

(0.00%)

FOXA 21st Century Fox
$37.77

(0.00%)

03/15/18
LOOP
03/15/18
INITIATION
Target $43
LOOP
Buy
21st Century Fox initiated with a Buy at Loop Capital
Loop Capital analyst Alan Gould started 21st Century Fox (FOXA) with a Buy rating and $43 price target. The analyst believes the company is set up as the "ideal acquisition target for either Disney (DIS) or Comcast (CMCSA) as they evolve their video businesses into a global, direct-to-consumer streaming service."
03/15/18
LOOP
03/15/18
INITIATION
Target $130
LOOP
Buy
Disney initiated with a Buy at Loop Capital
Loop Capital analyst Alan Gould started Disney (DIS) with a Buy rating and $130 price target. The analyst views the Disney/21st Century Fox (FOXA) deal as a "win/win," positioning Disney to be a more competitive player in the global streaming business.
VIA Viacom
$34.65

(0.00%)

03/28/18
SBSH
03/28/18
UPGRADE
Target $30
SBSH
Neutral
Viacom upgraded to Neutral from Sell at Citi
Citi analyst Jason Bazinet upgraded Viacom (VIAB) to Neutral and raised his price target for the shares to $30 from $26. The analyst assigns a 50% probability of a merger with CBS (CBS) and believes Viacom shares would be worth $30 under such a scenario.
05/07/18
SPHN
05/07/18
NO CHANGE
Target $58
SPHN
Equal Weight
CBS-Viacom deal could work at Class B shareholders' expense, says Stephens
Stifel analyst Kyle Evans contends that CBS (CBS) posted the kind of quarter that should fundamentally separate the company from many media peers. However, he said there is no more clarity following its report on whether its Class A shareholders will push for a combination with Viacom (VIAB) that "undermines Class B holders." Evans lowered his price target on CBS to $58 from $64 and maintains an Equal Weight rating on the stock.
05/15/18
SBSH
05/15/18
NO CHANGE
Target $66
SBSH
Buy
Citi drops likelihood of CBS-Viacom merger to 25% from 50%
Citi analyst Jason Bazinet dropped his likelihood of a CBS (CBS), Viacom (VIAB) merger to 25% from 50% after CBS filed a Delaware lawsuit asking for a restraining order to prevent Shari Redstone from interfering with a special CBS board meeting. The analyst now sees a lower chance of CBS acquiring Viacom. As such, he increased his price target for CBS shares to $66 from $61 and lowered his price target for Viacom shares to $29 from $30.
VIAB Viacom
$28.73

(0.00%)

04/03/18
KEYB
04/03/18
NO CHANGE
KEYB
Sector Weight
KeyBanc would likely view Viacom acquisition by CBS favorably
KeyBanc analyst Andy Hargreaves notes that news reports suggest an all-stock offer for Viacom (VIAB) by CBS (CBS) is imminent. The analyst believes this would create earnings growth potential through cost synergies in excess of what CBS standalone is capable of and could increase the likelihood of monetizing Viacom-owned assets through disposition. Hargreaves views the near-term risk/reward on CBS as positive and would likely view a deal favorably. He reiterates a Sector Weight rating on CBS shares.

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Electronic Arts

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Activision Blizzard

$69.63

0.7 (1.02%)

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NeuroMetrix

$1.26

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NeuroMetrix

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GSK

GlaxoSmithKline

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MDT

Medtronic

$95.02

4.96 (5.51%)

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MS

Morgan Stanley

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Mega option block in Morgan Stanley »

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$NSD

NASDAQ Market Internals

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RIGL

Rigel Pharmaceuticals

$2.65

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$NYE

NYSE Market Internals

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NFLX

Netflix

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UAL

United Continental

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Apollo Global

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United Continental

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Rigel Pharmaceuticals

$2.66

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JCI

Johnson Controls

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SPY

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$287.20

1.52 (0.53%)

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$0.00

(0.00%)

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GME

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GameStop call volume above normal and directionally bullish »

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13:40
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