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DISCA

Discovery

$30.74

1.03 (3.47%)

14:03
11/18/19
11/18
14:03
11/18/19
14:03

Discovery rises after Malone buys $75M worth of stock

In a regulatory filing earlier with the SEC, it was disclosed that Discovery director John Malone purchased 2,670,000 shares of the company's Series C common stock on November 14 in a transaction with a value of $74,840,100. In afternoon trading following the disclosure of the stock purchase from the cable mogul, Discovery shares are up 85c, or 2.9%, to $30.57.

DISCA Discovery
$30.74

1.03 (3.47%)

10/22/19
IMPC
10/22/19
UPGRADE
Target $34
IMPC
Outperform
Discovery upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst David Miller upgraded Discovery to Outperform from In-Line with a price target of $34, up from $29. Amidst changes in the Media sector, and against "various levels of turmoil" within many of the company's peers, Discovery has emerged "as one of the cleaner stories in the sector," Miller tells investors in a research note. Investors seems to have forgotten that, beginning September 24, 2020, Discovery will have pan-European rights to the summer Olympic games in Tokyo, adds the analyst. He sees multiple catalysts for the shares and recommends buying the stock ahead of the company's Q3 earnings call on November 7.
10/22/19
10/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Discovery (DISCA) upgraded to Outperform from In-Line at Imperial Capital with analyst David Miller sayign amidst changes in the Media sector, and against "various levels of turmoil" within many of the company's peers, Discovery has emerged "as one of the cleaner stories in the sector." 2. Dropbox (DBX) upgraded to Buy from Neutral at Nomura Instinet with analyst Christopher Eberle saying the company is nearing an inflection in revenue after six quarters of deceleration as a public company and its current valuation is attractive. 3. Workday (WDAY) and Anaplan (PLAN) upgraded to Outperform from In Line at Evercore ISI. 4. Owens Corning (OC) upgraded to Buy from Neutral at Buckingham with analyst Megan McGrath saying the company's installation business should benefit from recent improved volumes in residential U.S. construction and potentially improved price stability. 5. Bank of America (BAC) upgraded to Overweight from Neutral at Atlantic Equities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/04/19
RSBL
11/04/19
INITIATION
Target $30
RSBL
Neutral
Discovery initiated with a Neutral at Rosenblatt
Rosenblatt analyst Brian McTernan initiated coverage of Discovery with a Neutral rating and $30 price target.
11/11/19
RSBL
11/11/19
NO CHANGE
Target $33
RSBL
Neutral
Discovery price target raised to $33 from $30 at Rosenblatt
Rosenblatt analyst Brian McTernan raised his price target on Discovery shares to $33 from $30 following the company's "strong" Q3 report, which he believes "checked an important box." He raised his 2020 free cash flow per share estimate by about 8% following the report, driven by higher international distribution revenue and higher buybacks, but he keeps a Neutral rating on the shares as McTernan anticipates Discovery's subscriber declines "will begin to look like the rest of the industry" in 2020 as it will no longer be benefiting from incremental carriage from virtual multichannel video programming distributor, or MVPDs.

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