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MSGN

MSG Networks

$25.93

-0.61 (-2.30%)

, FOXA

Fox Corp.

$45.81

-0.01 (-0.02%)

05:03
10/19/18
10/19
05:03
10/19/18
05:03

MSG Networks price target raised to $32 from $29 at Imperial Capital

Imperial Capital analyst David Miller raised his price target for MSG Networks (MSGN) to $32 saying the market is "finally paying attention" to the company's de-leveraging campaign. The shares "could breakout even further" due to the potential of a new "valuation mark" set by the sale of the 21st Century Fox (FOXA) Regional Sports Networks, and specifically a sale of the YES Network to Yankee Global Enterprises, Miller tells investors in a research note. The analyst keeps an Outperform rating on MSG Networks.

MSGN

MSG Networks

$25.93

-0.61 (-2.30%)

FOXA

Fox Corp.

$45.81

-0.01 (-0.02%)

  • 14

    Nov

MSGN MSG Networks
$25.93

-0.61 (-2.30%)

08/21/18
IMPC
08/21/18
INITIATION
Target $29
IMPC
Outperform
MSG Networks initiated with an Outperform at Imperial Capital
Imperial Capital analyst David Miller initiated shares of MSG Networks with an Outperform rating and $29 price target, telling investors in a research note that the market may be underestimating the pace of de-leveraging and that subscriber declines seen in past quarters is now more muted due to inclusion on various skinny bundles. The analyst believes MSG Networks' free cash flow generation will supercharge its net debt/AOI ratio down to below 2.25x by the end of FY19 and below 2.2x by the end of FY20.
08/21/18
IMPC
08/21/18
INITIATION
Target $372
IMPC
Outperform
Madison Square Garden initiated with an Outperform at Imperial Capital
Imperial Capital analyst David Miller initiated shares of Madison Square Garden (MSG) with an Outperform rating and $372 price target. In a research note to investors, Miller says that while investors have enjoyed an 11.5% increase in share price since the announcement on June 27 that the company is considering splitting into two different entities, he believes there is still "measurable upside" to full intrinsic value on a sum-of-the-parts basis. In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks. Rather, MSG is focused completely on the "live" experience, with flagship assets that include the NY Knicks, the NY Rangers, and the real estate associated with iconic arenas such as the Forum in Los Angeles, Radio City Music Hall, the Chicago Theater, and the Garden itself.
08/21/18
08/21/18
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. Conagra Brands (CAG) initiated with an Overweight at Stephens. 2. Vital Therapies (VTL) initiated with an Overweight at Cantor Fitzgerald. 3. Jefferies Financial Group (JEF) initiated with an Outperform at Keefe Bruyette. 4. Madison Square Garden (MSG) and MSG Networks (MSGN) were initiated with an Outperform at Imperial Capital. 5. Berry Petroleum (BRY) initiated with a Buy at Johnson Rice and Tudor Pickering. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/21/18
08/21/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. JEFFERIES UPS DISCOVERY TO BUY: Jefferies analyst John Janedis upgraded Discovery (DISCA) to Buy from Hold and raised his price target for shares to $34 from $26, telling investors he sees "several" opportunities that could increase Discovery's free cash flow, including stronger U.S. distribution growth, upside to realized synergies and the potential for a re-introduction of a stock repurchase plan earlier than anticipated. Janedis said he believes the market is under-appreciating Discovery's relative stability and free cash flow generation. Discovery shares were higher by 3.4% in late morning trading. BOFA RAISES APPLE PRICE TARGET TO $250: BofA Merrill Lynch analyst Wamsi Mohan said his analysis of third-party data indicates that the relative contribution from games to App Store revenue is coming down and he views this diversifying away from gaming as bullish for Apple's (AAPL) Services business. The strong growth rate of non-gaming categories gives him increased confidence in the sustainability of strong App Store sales, leading the analyst to raise his Services revenue estimate and increase his price target on Apple shares to $250 from $230 with a Buy rating on the name. IMPERIAL STARTS MSG AT OUTPERFORM: Imperial Capital analyst David Miller initiated shares of Madison Square Garden (MSG) with an Outperform rating and $372 price target. Miller believes there is still "measurable upside" to full intrinsic value on a sum-of-the-parts basis. In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks. Rather, MSG is focused completely on the "live" experience, with flagship assets that include the NY Knicks, the NY Rangers, and the real estate associated with iconic arenas such as the Forum in Los Angeles, Radio City Music Hall, the Chicago Theater, and the Garden itself. MORGAN STANLEY GOES RESTRICTED ON TESLA: Morgan Stanley is now restricted in terms of rating Tesla (TSLA), on which the firm previously had an Equal Weight rating. The Fly notes that on August 15, Goldman Sachs went to Not Rated on Tesla, with analyst David Tamberrino stating that the change was due to Goldman "acting as a financial advisor in connection with a matter that is fundamental to the reasonable analysis of the rating and price target for this stock." It may be that a similar situation is why Morgan Stanley is restricted in covering Tesla, though that has not been confirmed by the bank.
FOXA Fox Corp.
$45.81

-0.01 (-0.02%)

09/24/18
LOOP
09/24/18
NO CHANGE
Target $51
LOOP
Buy
21st Century Fox favored over Disney on on Comcast-Sky deal, says Loop Capital
Loop Capital analyst Alan Gould kept his Buy rating and $51 price target on 21st Century Fox (FOXA), saying that while Disney (DIS) should also rise on the latest news of Comcast (CMCSA) buy Sky (SKYAY), "asymmetrical returns" favor Fox as Disney stock price "approaches the high end of the collared range for the Fox transaction". The analyst notes that he is positive on Fox "as an attractive way to buy Disney and create shares in the spinoff New Fox". Gould adds that while missing on Sky "complicates Disney's direct-to-consumer" Europe strategy, he believes investors will reward its stronger balance sheet and its independent efforts of launching a global streaming business.
09/24/18
BERN
09/24/18
NO CHANGE
BERN
Sky's bidding war outcome 'best possible result' for Disney, says Bernstein
Bernstein analyst Todd Juenger says this weekend's outcome of the bidding war for Sky (SKYAY) was "the best possible result" for Disney (DIS). The analyst argues that he never understood why Disney would want to operate a European DBS business, and never understood how Sky would contribute to Disney's DTC strategy. Rather than pay such a premium like Comcast (CMCSA), Disney can now get "paid" that premium, assuming Fox (FOXA) agrees to sell and deliver the proceeds to Disney in lieu of the shares they had promised, the analyst contends.
10/15/18
MSCO
10/15/18
INITIATION
Target $53
MSCO
Overweight
21st Century Fox resumed with an Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne resumed coverage of 21st Century Fox (FOXA) with an Overweight rating and $53 price target, based on his valuation of $12 per share for "New Fox" and roughly $41 per share for "RemainCo." Swinburne said he expects New Fox's cable networks to deliver 7-8% annualized distribution fee growth through FY22, which he notes is higher growth than he projects for the U.S. TV assets it is selling to Disney (DIS). He projects roughly $2.1B of annual free cash flow generated on average for FY20-FY22, ramping up to nearly $2.5B in FY23, which he sees being used for dividends, buybacks and likely more M&A.
10/15/18
MSCO
10/15/18
NO CHANGE
Target $135
MSCO
Overweight
Disney shares appear 'compelling' at current levels, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne believes Disney (DIS) shares appear "compelling" at a current valuation of under 13x "core" FY20 pro forma EPS given the company's opportunity to maximize the potential of the acquired Fox (FOXA) assets and scale a direct-to-consumer business. He attributes investor reluctance to own Disney shares to uncertainty about its ability to simultaneously execute on a large acquisition, launch a global direct-to-consumer business and grow, but Swinburne sees this "complexity discount" as an opportunity, he tells investors. He maintains an Overweight rating on Disney shares with a $135 price target.

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HYMTF

Hyundai Motor

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SMTS

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LGF.B

Lionsgate

$15.17

0.4 (2.71%)

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Netflix

$378.09

2.94 (0.78%)

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$378.09

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Apple

$195.07

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SPOT

Spotify

$144.04

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Roku

$66.82

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TSLA

Tesla

$274.10

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HSBC

HSBC

$41.07

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, BLK

BlackRock

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BlackRock

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UBER

Uber

$0.00

(0.00%)

, ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

19:21
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Periodicals
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Uber

$0.00

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PIN

Pinterest

$25.63

-0.07 (-0.27%)

19:18
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TAP

Molson Coors

$60.80

1.04 (1.74%)

, BUD

AB InBev

$83.94

0.52 (0.62%)

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Molson Coors

$60.80

1.04 (1.74%)

BUD

AB InBev

$83.94

0.52 (0.62%)

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  • 07

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OSS

One Stop Systems

$2.52

(0.00%)

, AMRN

Amarin

$18.77

-0.24 (-1.26%)

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AMRN

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$18.77

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GME

GameStop

$10.54

0.06 (0.57%)

DLNG

Dynagas LNG

$2.61

0.025 (0.97%)

ZUO

Zuora

$24.34

0.62 (2.61%)

CAL

Caleres

$25.75

-0.08 (-0.31%)

OPNT

Opiant Pharmaceuticals

$14.00

0.5 (3.70%)

NKE

Nike

$88.05

1.3597 (1.57%)

CTAS

Cintas

$208.00

2.78 (1.35%)

CNAT

Conatus

$2.91

0.02 (0.69%)

GG

Goldcorp

$11.17

0.13 (1.18%)

NEM

Newmont Mining

$34.32

0.44 (1.30%)

03/08/13
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  • 11

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    Apr

UBER

Uber

$0.00

(0.00%)

, ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

18:40
03/21/19
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18:40
03/21/19
18:40
Periodicals
Uber selects NYSE for 2019 IPO, Bloomberg reports »

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UBER

Uber

$0.00

(0.00%)

ICE

IntercontinentalExchange

$73.36

0.15 (0.20%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 02

    May

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    May

CVS

CVS Health

$57.40

1.23 (2.19%)

18:34
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    Mar

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.63

3.19 (1.13%)

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S&P 500

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SPDR S&P 500 ETF Trust

$284.63

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NOK

Nokia

$6.26

-0.03 (-0.48%)

18:20
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  • 20

    May

DNR

Denbury Resources

$1.95

0.06 (3.17%)

, PVAC

Penn Virginia

$54.29

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Denbury Resources

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PVAC

Penn Virginia

$54.29

1.74 (3.31%)

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IMMP

Immutep

$2.40

-0.095 (-3.82%)

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PVAC

Penn Virginia

$54.29

1.74 (3.31%)

, DNR

Denbury Resources

$1.95

0.06 (3.17%)

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PVAC

Penn Virginia

$54.29

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DNR

Denbury Resources

$1.95

0.06 (3.17%)

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  • 07

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LLL

L3 Technologies

$208.75

1.535 (0.74%)

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  • 04

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GM

General Motors

$37.35

0.35 (0.95%)

17:42
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GD

General Dynamics

$169.81

1.21 (0.72%)

17:42
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  • 28

    May

NKE

Nike

$88.05

1.3597 (1.57%)

17:41
03/21/19
03/21
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17:41
Earnings
Breaking Earnings news story on Nike »

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NKE

Nike

$88.05

1.3597 (1.57%)

17:39
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03/21
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17:39
Earnings
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NKE

Nike

$88.05

1.3597 (1.57%)

17:36
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LOV

Spark Networks

$11.29

(0.00%)

17:34
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03/21
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17:34
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Spark Networks to acquire Zoosk, sees adjusted EBITDA to exceed $50M in 2020 »

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ACA

Arcosa

$29.74

-0.16 (-0.54%)

17:29
03/21/19
03/21
17:29
03/21/19
17:29
Initiation
Arcosa initiated at DA Davidson »

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JNJ

Johnson & Johnson

$138.09

0.86 (0.63%)

17:24
03/21/19
03/21
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17:24
Hot Stocks
Johnson & Johnson sees Q1 charge of about $700M related to AL-8176 »

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