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Fly News Breaks for December 3, 2019
GOOGL, AAPL, T, DIS, CMCSA, ROKU
Dec 3, 2019 | 07:06 EDT
Needham analyst Laura Martin raised her price target on Roku to $200 and kept her Buy rating, saying the company's promising aggregation platform economics in 2019 will be followed with accelerated subscription SVOD revenues in 2020. The analyst sees Roku as a "key beneficiary" with an installed base of 32M connected-TV homes in the U.S. as Disney+, Apple+, Peacock, and HBOMax streaming services accelerate customer acquisition spending. Martin adds that the company should be valued as an "internet aggregator" comparable to YouTube in the video space.
News For ROKU;DIS;AAPL;CMCSA;T;GOOGL From the Last 2 Days
AAPL
Dec 10, 2019 | 11:34 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NEEDHAM CUTS NETFLIX... To see the rest of the story go to thefly.com. See Story Here
CMCSA
Dec 10, 2019 | 08:30 EST
Comcast plans to spend $2B on content and marketing for its Peacock streaming service, The Wall Street Journal's Lillian Rizzo reports, citing comments made by CFO Michael Cavanagh. The NBCUniversal and CNBC parent will debut the Peacock service in April. Cavanagh told the UBS Global TMT Conference that the company is also considering offering different subscription tiers. Reference Link
AAPL
Dec 10, 2019 | 07:08 EST
Nomura Instinet analyst Jeffrey Kvaal interprets November's China MIIT smartphone data from his colleague Manabu Akizuki as a positive for Apple. Annual revenues in Greater China look set to return to growth, Kvaal tells investors in a research note. The analyst now expects Apple to launch four 5G models in 2020, including a smaller variant. Apple is "sensibly seeking" to balance operators' 5G interest with its materially higher bill of materials, says Kvaal. He has "restrained optimism" for 5G sales in 2020 and keeps a Neutral rating on Apple with a $225 price target.
DIS, CMCSA, AAPL
Dec 10, 2019 | 05:45 EST
Needham analyst Laura Martin downgraded Netflix (NFLX) to Underperform from Hold without a price target. The streaming has consistently stated it will not have advertising, which will result in U.S. subscriber losses, Martin tells investors in a research note. She projects Netflix will lose 4M U.S. subs in 2020 at its premium priced tier of $9-$16 per month. The company must add a second, lower priced service to compete with Disney+ (DIS), Apple+ (AAPL), Hulu, CBS All Access (VIAC) and NBC's Peacock (CMCSA), each of which have $5-$7 per month choices, contends Martin. The analyst, who believes Netflix's balance sheet "cannot withstand lower revenue," recommends a six-to-minute per hour ad load to supplement a $5-$7 monthly consumer fee. She does not think the company's international subscriber growth can support its valuation and would find the stock more attractive around $260. Netflix closed Monday down $4.85 to $302.50.
AAPL
Dec 9, 2019 | 13:23 EST
Apple announced that it received its first-ever Golden Globe nominations from the Hollywood Foreign Press Association, including Best Television Series, Drama, for Apple's "The Morning Show" and dual nominations for Best Performance by an Actress in a Television Series, Drama, for "The Morning Show" stars and executive producers Jennifer Aniston and Reese Witherspoon. "With today's nominations for 'The Morning Show,' Apple TV+ became the first streaming platform to receive recognition from the HFPA in its launch year, with the service launching only one month ago. These are also the first drama TV actress nominations for both Aniston and Witherspoon," the company stated in its press release confirming the nominations.
DIS, CMCSA, T
Dec 9, 2019 | 12:12 EST
Netflix (NFLX) has received 34 nominations for this year's Golden Globe awards, leading all other studios and streaming services, the Wall Street Journal's Ellen Gamerman and John Jurgensen reports. The streaming giant received 17 honors on the motion-picture side, buoyed by "Marriage Story" and "The Irishman, which led the film categories with six and five nominations, respectively, the authors say. Netflix also led on the television side with 17 nominations over HBO's (T) 15, the authors note. Other companies nominated for Golden Globes include Sony (SNE), Amazon (AMZN), Disney (DIS), ViacomCBS (VIAC), Lionsgate (LGF.A), 20th Century Fox (FOXA), and Comcast (CMCSA). Reference Link
CMCSA
Dec 9, 2019 | 08:00 EST
Global TMT Conference will be held in New York on December 9-11 with webcasted company presentations to begin on December 9 at 8 am; not all company presentations may be webcasted. Webcast Link
GOOGL
Dec 9, 2019 | 07:40 EST
Argus analyst Joseph Bonner keeps his Buy rating, $1,450 price target, and his FY19/FY20 EPS views of $60.74 and $63.64 on Alphabet (GOOGL) after the company disclosed that founders Larry Page and Sergey Brin have resigned from their respective posts. The analyst notes that while "regulatory storms" gather around the company amid Congressional and DoJ antitrust reviews, he still sees the stock as attractively valued based on its "rapidly expanding" business lines. Bonner also refutes the latest bear case that Amazon's (AMZN) entry into online advertising will be a "Google killer".
AAPL
Dec 9, 2019 | 06:13 EST
China Renaissance analyst Jason Sun initiated coverage of Apple with a Buy rating and $342 price target. The analyst is "doubtful" about the upside potential of the iPhone but he still expects the segment to continue to be a "cash cow" given Apple's leading position in the high-end market. In addition, he expects the iPad and Mac segments revenue generation to be stable. Further, wearables and services products provide Apple with a "new revenue injection," Sun tells investors in a research note.