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DISCA

Discovery

$28.39

0.1 (0.35%)

16:48
07/10/18
07/10
16:48
07/10/18
16:48

Discovery initiated with a Neutral at Credit Suisse

Credit Suisse analyst Douglas Mitchelson initiated Discovery with a Neutral rating and a price target of $30. The analyst notes that while the company has "excellent brands and management", its scale is lacking to compete against against large distributors as its pay TV profits pale compared to streaming. The analyst adds that it is unlikely for potential acquirers to appear and pursue Discovery's non-fiction programming assets.

  • 07

    Aug

DISCA Discovery
$28.39

0.1 (0.35%)

06/26/18
IMPC
06/26/18
INITIATION
Target $32
IMPC
Outperform
Discovery initiated with an Outperform at Imperial Capital
Imperial Capital analyst David Miller initiated Discovery (DISCA) with an Outperform rating and $32 price target, telling investors in a research note that, with the stock at 7.7x EV/EBITDA on the out-year and at 8.0x his 2019 non-GAAP EPS estimate of $3.53, he believes investors are now much more focused on Discovery's domestic cord-cutting and cord-shaving issues and may be disregarding the company's future free cash flow composition, which should go entirely towards the paring of debt, most of which was sourced last year in order to acquire Scripps Networks. This morning, Imperial Capital also initiated Netflix (NFLX) with an Outperform.
06/26/18
IMPC
06/26/18
INITIATION
Target $503
IMPC
Outperform
Netflix initiated with an Outperform at Imperial Capital
Imperial Capital analyst David Miller initiated Netflix (NFLX) with an Outperform rating and $503 price target, telling investors that he believes Netflix's greatest competitive advantage as it seeks to grow subscribers from current levels is its pricing structure, and the value the consumer receives for that structure. "Consumers can watch what they want, when they want, streamed instantly to a variety of content enabled devices" for just $7.99/month or $15.98/month inclusive of physical rental on DVD, Miller contends, noting that this is a deep contrast to video on demand, which, depending on the multiple system operator and on the system, is priced at $3.99-5.99 per film, or Redbox, which is a value at $1.99 per film, but has a limited selection and a "disc quality" issue. Miller says he knows of no single competitor that offers so much choice of content at this price point. Miller also initiated Discovery (DISCA) with an Outperform.
07/02/18
MKMP
07/02/18
NO CHANGE
Target $35
MKMP
Buy
Discovery price target raised to $35 from $28 at MKM Partners
MKM Partners analyst Eric Handler raised his price target on Discovery to $35 and kept his Buy rating, saying he continues to view its shares as undervalued. Handler notes that the market does not fully reflect the "quality of its multi-year growth drivers and potential upside opportunities". The analyst also cites the possibility of the company being acquired after the regulators' lax oversight for AT&T-Time Warner deal, insider purchases from chairman John Malone, and the possibility of a short squeeze. Handler adds that Q2 earnings may see some upside from lower than expected expenses.
07/03/18
IMPC
07/03/18
NO CHANGE
Target $32
IMPC
Outperform
Discovery will not bid for Fox regional sports networks, says Imperial Capital
Imperial Capital analyst David Miller says Discovery (DISCA) is seeing "unnecessary selling pressure" on media reports that the company is a potential bidder for the Fox regional sports networks, which Disney (DIS), through its pending acquisition of the entertainment assets of 21st Century Fox (FOXA), will have to divest, as per the Department of Justice decree. The analyst believes potential bidders for these assets will include Charter (CHTR), Liberty Media (LMCA), Altice (ATUS), and various private equity entities, but not Discovery. Discovery is fully occupied with the integration of Scripps Networks, the sale of its headquarters building in Bethesda, Maryland, as well as ratings issues at its core Discovery Channel, Miller tells investors in a research note. Further, he notes that Discovery already pledged $2B in additional sports rights to broadcast various PGA Tour events via its networks outside of the U.S. through 2030. As such, the analyst thinks the recent pullback has created an "attractive opportunity to either establish new positions, or for existing holders to lower their bases." Miller keeps an Outperform rating on Discovery with a $32 price target.

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VNQ

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VEEV

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TTWO

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SELB

Selecta Biosciences

$9.25

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$18.49

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BCS

Barclays

$8.60

0.11 (1.30%)

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SELB

Selecta Biosciences

$8.93

-4.44 (-33.21%)

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SLG

SL Green Realty

$92.15

0.36 (0.39%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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KKR

KKR

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SBH

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ICAD

iCAD

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AMD

AMD

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UNH

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