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CMCSK

Comcast

$0.00

(0.00%)

, CMCSA

Comcast

$44.54

-0.93 (-2.05%)

18:02
11/15/19
11/15
18:02
11/15/19
18:02

Viacom extends cable deal for 'The Office' through 2025

Viacom (VIA) announced continued stays in Scranton, Pennsylvania and Pawnee, Indiana. Under the new pact with NBCUniversal (CMCSA), Comedy Central extended its exclusive cable deal for legendary comedy "The Office" through 2021. After that, the series will continue to air through 2025 in a non-exclusive window on Viacom Media Networks. Additionally, Viacom renewed its cable deal for equally iconic sitcom "Parks and Recreation." All 125 episodes will be able to air on Comedy Central through 2024. "Keeping the exclusive rights to The Office through 2021 is a coup for Comedy Central and Viacom," said Tanya Giles, GM of Comedy Central, Paramount Network, TV Land and Assistant to the Regional Manager of Dunder Mifflin. "Since acquiring it, we've reinvigorated the franchise on linear, drawing big audiences throughout our full day schedule. It's also been a key lead-in to help drive viewers to our own original, acclaimed comedies. We're so excited to keep it on our air that we wouldn't even trade it for an iPod."

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$44.54

-0.93 (-2.05%)

VIAB

Viacom

$23.07

0.59 (2.62%)

VIA

Viacom

$26.59

1.28 (5.06%)

  • 09

    Dec

CMCSK Comcast
$0.00

(0.00%)

07/29/19
FBCO
07/29/19
NO CHANGE
FBCO
Credit Suisse sees virtually no impact for AT&T, Verizon from Dish near-term
Following the Justice Department's settlement with T-Mobile (TMUS) and Sprint (S), Credit Suisse analyst Douglas Mitchelson notes that for Altice USA (ATUS), the settlement requires mobile virtual network operator contracts to be extended through at least 7 years post closing, which he views as a "significant positive" for Altice. For cable broadly, Dish (DISH) would represent an "intriguing option" for entry into the wireless business longer-term if CEO decided to sell the company, he contends. The analyst would expect that Comcast (CMCSA) and Charter (CHTR) would wait until the point where wireless pricing and valuations are thought to have bottomed. For AT&T (T) and Verizon (VZ), Mitchelson sees virtually no impact from Dish the next few years as the company will be just focused on scaling marketing of its T-Mobile MVNO while building its wireless network. Longer-term, while Dish might be in a position to deflate wireless pricing, AT&T and Verizon should still have superior coverage, network density, backhaul, scale, and quality of service, he adds.
09/25/19
BNCH
09/25/19
INITIATION
Target $64
BNCH
Buy
Comcast initiated with a Buy at Benchmark
Benchmark analyst Matthew Harrigan initiated Comcast with a Buy rating and $64 price target, citing his view that the company is uniquely positioned to benefit from fixed and wireless/mobile broadband growth, direct-to-consumer alternatives to traditional TV bundles and advanced advertising. He sees the potential at Comcast for low teens annual adjusted EPS growth, assuming resumed buyback activity in 2020, Harrigan said.
09/19/19
RSBL
09/19/19
NO CHANGE
Target $134
RSBL
Buy
Roku pullback an 'overreaction' to Comcast's free streaming box, says Rosenblatt
Rosenblatt analyst Mark Zgutowicz said yesterday's weakness in Roku (ROKU) shares was related to news that Comcast (CMSCA) will give its Xfinity Flex streaming box to its broadband only customers for free. However, he thinks the potential impact to Roku looks modest. He thinks Roku has a significant customer acquisition advantage via smart TV sell through, noting that Roku TV sales have represented an estimated 1 of 3 smart TVs sold this year. Zgutowicz maintains a Buy rating and $134 price target on Roku shares, which are down another 1% to $128.26 in pre-market trading.
08/14/19
MACQ
08/14/19
DOWNGRADE
Target $31
MACQ
Neutral
Viacom downgraded to Neutral from Outperform at Macquarie
Macquarie analyst Tim Nollen downgraded Viacom (VIAB) to Neutral from Outperform and keeps a Neutral rating on CBS (CBS) shares after the two companies announced a merger deal with no premium for Viacom following "3 years of on again/off again merger discussions amidst wrenching change in the industry." While he believes the deal's strategic positives outweigh the risks, Nollen said integration might not be easy and that ViacomCBS will still be "small-ish" compared with competitors Comcast (CMCSA) and Disney (DIS). He lowered his price target on Viacom shares to $31 from $37 and cut his price target on CBS shares to $53 from $55.
CMCSA Comcast
$44.54

-0.93 (-2.05%)

10/25/19
MSCO
10/25/19
NO CHANGE
Target $53
MSCO
Overweight
Morgan Stanley says Comcast results a reminder of 'uniquely attractive position'
Morgan Stanley analyst Benjamin Swinburne said Comcast's Q3 served as a reminder of the company's "uniquely attractive position" with rising returns on invested capital as margins improve and capital intensity falls. While video subscriber losses are increasing, broadband customer growth is accelerating and sustaining this growth is the key to continued share performance, said Swinburne. Although regulatory questions around broadband may come back into focus during the 2020 election process, he also believes the "cumulative impact of years of investment in the network and product set" should not be underestimated, Swinburne added. He keeps an Overweight rating on the stock and bumped up his price target to $53 from $51.
10/25/19
GUGG
10/25/19
NO CHANGE
Target $57
GUGG
Negative view of media assets weighing on Comcast sentiment, says Guggenheim
Guggenheim analyst Mike McCormack said Comcast reported a "solid" third quarter with Cable, NBCU, total revenue, broadband net adds and EBITDA topping his expectations. While he expects free cash flow to improve given the combination of lower capex intensity and moving past film and TV working capital headwinds, he believes "sentiment for media assets remains firmly negative," which he thinks is weighing on sentiment for Comcast. He raised his price target on the stock to $57 from $52 and keeps a Buy rating on Comcast shares.
11/04/19
SPHN
11/04/19
NO CHANGE
Target $8
SPHN
Equal Weight
Stephens ups WideOpenWest price target to $8, remains concerned on competition
Stephens analyst Kyle Evans said shares of WideOpenWest (WOW) have held up better than he anticipated following the distribution of 27M shares by Avista to limited partners in August and that the stock responded better than he'd expected to the company's Q3 report on Friday. Though he raised his price target on the stock to $8 from $6 after unit economics in the quarter trended positively, Evans keeps an Equal Weight rating on the shares given his concerns about leverage, uncertainty around TV economics and "formidable competition" from the likes of Comcast (CMCSA), Charter (CHTR), Cable One (CABO) and Altice USA (ATUS).
11/14/19
HSBC
11/14/19
DOWNGRADE
HSBC
HSBC downgrades AT&T, Verizon, T-Mobile and Altice USA to Hold
HSBC analyst Sunil Rajgopal downgraded to Hold from Buy shares of AT&T (T), Verizon Communications (VZ), T-Mobile (TMUS) and Altice USA (ATUS). The analyst's only Buy in US Telecoms is now Comcast (CMCSA). Rajgopal keeps Reduce ratings on both Dish (DISH) and Sprint (S). The "evolving content business model" and increasing competition leads the analyst to be more cautious on the pay-TV business and operators with greater exposure to content revenues. Producers are increasingly distributing their content directly to consumers rather than relying on the cable and satellite aggregators, Rajgopal tells investors in a research note. In addition, the entry of a "well-funded" companies like Apple (AAPL) into content production and distribution "with its low sticker price adds to the concerns," contends the analyst. Rajgopal cut his pay-TV subscriber estimates for Comcast, AT&T, Charter and Altice USA to reflect his more cautious stance. The analyst lowered his price target for Altice USA to $28 from $30, raised his price target for AT&T to $42 from $38, raised his price target for Verizon to $65 from $62, and kept an $86 price target on T-Mobile.
VIAB Viacom
$23.07

0.59 (2.62%)

10/21/19
LEHM
10/21/19
NO CHANGE
Target $41
LEHM
Equal Weight
Barclays cuts CBS target to $41, Viacom target to $24
Barclays analyst Kannan Venkateshwar cut his price target for CBS (CBS) to $41 from $53 and for Viacom (VIAB) to $24 from $33 while keeping Equal Weight ratings on both names. CBS and Viacom shares have sold off ~25% since their merger announcement on August 13, partly due to deal technicals, Venkateshwar tells investors in a research note. However, the analyst believes the selloffs are also a reflection of the fundamental challenges faced by both companies and skepticism around upside from the deal. The S-4 filing last week is the latest evidence of this struggle with CBS cutting its free cash flow estimates for the next couple years by 30%-40% and Viacom cutting EBITDA by 7%-8% versus consensus, Venkateshwar says. As a result of this revision, CBS may miss its long-term standalone earnings and revenue growth guidance provided at the beginning of this year, he adds.
10/24/19
FBCO
10/24/19
NO CHANGE
Target $52
FBCO
Outperform
CBS price target lowered to $52 from $66 at Credit Suisse
Credit Suisse analyst Douglas Mitchelson lowered his price target for CBS (CBS) to $52 from $66 after reviewing the ViacomCBS S-4 merger filing in detail and considering post-merger announcement management commentary. The analyst does not believe the S-4 disclosures for the separate CBS and Viacom (VIAB) budgets represent the outlook for the combined company based on the likely operating strategies of ViacomCBS management. Further, Mitchelson believes management's focus on programming efficiencies and undertaking only modest investments in streaming services suggests the programming/working capital budgets in the S-4 were too high. He reiterates an Outperform rating on CBS shares.
10/23/19
WELS
10/23/19
NO CHANGE
Target $31
WELS
Underperform
CBS price target lowered to $31 from $40 at Wells Fargo
Wells Fargo analyst Steven Cahall lowered his price target for Underperform-rated CBS (CBS) to $31 from $40, saying the Viacom (VIAB)-CBS S-4 has further reduced his investor confidence. HE tells investors that CBS investors are "frustrated" that it took so long to reset expectations to a new lower normal. The analyst also lowered his price target for Viacom to $23 from $18, saying management's projections in the out years appear disconnected from ecosystem realities.
09/24/19
09/24/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Disney (DIS) was initiated with an Outperform at Wells Fargo, while Netflix (NFLX) was initiated with a Market Perform, and CBS (CBS), Viacom (VIAB, VIA), and Fox Corp. (FOXA) were initiated with Underperform ratings. 2. Merit Medical (MMSI) initiated with an Outperform at Oppenheimer. 3. Global Payments (GPN) reinstated with a Buy at Goldman Sachs. 4. 10x Genomics (TXG) initiated with an Outperform at Evercore ISI. 5. Corcept Therapeutics (CORT) and Strongbridge Biopharma (SBBP) initiated with a Buy at Jefferies. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
VIA Viacom
$26.59

1.28 (5.06%)

08/14/19
DBAB
08/14/19
UPGRADE
DBAB
Buy
Viacom upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Bryan Kraft upgraded Viacom (VIAB) to Buy from Hold and raised his price target on the stock to $42 from $33. Yesterday, CBS (CBS) and Viacom announced a definitive agreement to combine in an all-stock merger.

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AutoZone

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Fortive, Emerson, Gardner Denver rating change  »

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FTV

Fortive

$73.83

-0.31 (-0.42%)

EMR

Emerson

$74.54

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GDI

Gardner Denver

$33.43

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  • 11

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ADBE

Adobe

$304.21

-2.78 (-0.91%)

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  • 12

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AAXN

Axon

$72.63

0.36 (0.50%)

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SSW

Seaspan

$13.76

0.31 (2.30%)

, LPI

Laredo Petroleum

$2.59

0.12 (4.86%)

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SSW

Seaspan

$13.76

0.31 (2.30%)

LPI

Laredo Petroleum

$2.59

0.12 (4.86%)

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FTSV

Forty Seven

$34.60

4.19 (13.78%)

07:34
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ARWR

Arrowhead

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2.96 (4.37%)

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NTEC

Intec Pharma

$0.58

0.0111 (1.95%)

, NVS

Novartis

$92.79

0.24 (0.26%)

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NTEC

Intec Pharma

$0.58

0.0111 (1.95%)

NVS

Novartis

$92.79

0.24 (0.26%)

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  • 11

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AZO

AutoZone

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79.085 (6.75%)

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DBI

Designer Brands

$14.18

-2.83 (-16.64%)

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BLCM

Bellicum Pharmaceuticals

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QRVO

Qorvo

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AVGO

Broadcom

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OMCL

Omnicell

$82.06

2.03 (2.54%)

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GWW

Grainger

$323.51

-0.83 (-0.26%)

07:29
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PLCE

Children's Place

$70.67

0.68 (0.97%)

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  • 11

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BBSI

Barrett Business

$89.45

1.85 (2.11%)

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MA

MasterCard

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ROK

Rockwell Automation

$199.78

0.89 (0.45%)

07:28
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WBT

Welbilt

$16.32

-0.14 (-0.85%)

07:27
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