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DISCA

Discovery

$27.00

0.43 (1.62%)

11:10
07/19/18
07/19
11:10
07/19/18
11:10

Discovery draws a bullish option strategy as shares tick higher

Discovery draws a bullish option strategy as shares tick higher. The stock up 25c to $26.83 and 7.5K Aug 25 puts sold at 45c while 7.5K Aug 27.5 - 30 call spreads bought for 73c. The three-way will create some of the largest open interest blocks in the name (next to 8.5K open in both the Oct 35 puts and calls) and offers a max payout if shares rally 11.8% to $30 or better over the next twenty-nine days. Jun 28th 52-week high is $28.48. Earnings 8/7.

  • 07

    Aug

  • 09

    Aug

DISCA Discovery
$27.00

0.43 (1.62%)

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.
07/10/18
FBCO
07/10/18
INITIATION
Target $30
FBCO
Neutral
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.
07/19/18
GSCO
07/19/18
UPGRADE
Target $33
GSCO
Conviction Buy
Discovery upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Drew Borst added Discovery to his firm's Americas Conviction List, while maintaining a Buy rating on the shares, with 24% upside to his $33 12-month price target. Discovery's acquisition of Scripps creates "meaningful" cost and revenue synergy opportunities, Borst tells investors in a research note. The analyst views Discovery's carriage on Sling TV, a successful advertising upfront, and positive earnings revisions as near-term catalysts for the shares.
07/19/18
07/19/18
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. Square (SQ) upgraded to Outperform from Neutral at Credit Suisse WITH analyst Paul Condra saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants, positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases, and growth investing should support strong revenue trends driving upside to revenue forecasts in the out-years. 2. Discovery (DISCA) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Drew Borst saying Discovery's acquisition of Scripps creates "meaningful" cost and revenue synergy opportunities. 3. Grainger (GWW) upgraded to Neutral from Sell at UBS with analyst Steven Winoker saying the company's strategic initiatives, including its pricing reset and e-commerce platform development, reposition it to gain market share through 2019. 4. Hilton (HLT) upgraded to Buy from Hold at Berenberg. 5. United Continental (UAL) upgraded to Outperform from Neutral at Macquarie. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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SNE

Sony

$51.01

-1.195 (-2.29%)

08:27
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TGT

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$72.05

-0.05 (-0.07%)

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LPLA

LPL Financial

$83.85

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TMO

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VFC

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$7.25

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HSBC

HSBC

$41.70

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  • 03

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$DJT

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$0.00

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RIG

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$DJU

DJ Utility Average

$0.00

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DJX

Dow Jones Industrial Average

$0.00

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IYT

iShares Transportation Average

$189.41

0.79 (0.42%)

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XLK

Technology Select Sector SPDR

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XLE

Energy Select Sector SPDR

$64.53

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