UPDATE: Brean Murray Carret Cuts Target to $57 on DirecTV

Brean Murray Carret lowers its price target on DirecTV (NASDAQ: DTV) to $57 from $59 on caution warranted from profitability concerns. Shares continue to be rated Buy.

Brean Murray Carret says, "DirecTV faces a tough comparison in 2012, U.S. net adds will likely drop dramatically, and profitability will come under further pressure from higher programming costs. We expect 4Q11 results to belay the first signs of these trends with the first quarterly drop in net adds and the worst of four progressively larger quarterly drops in profitability."

DTV closed at $45.51 a share on Friday.