UPDATE: Goldman Sachs Reiterates Neutral Rating, Lowers PT on DIRECTV on Positive 4Q Trends
In a report published Friday, Goldman Sachs reiterated its Neutral rating on DIRECTV (NASDAQ: DTV), but lowered its price target from $60.00 to $56.00.
Goldman Sachs noted, “4Q results were constructive, with healthy high single-digit revenue/EBITDA growth that exceeded expectations and strong subscriber metrics across both segments, led by lower US churn and record LatAm net adds. In addition, DTV announced a $4 bn buyback which we believe was at the high-end of recent street expectations. Furthermore, the company had already flagged programming cost growth of high-single digits in 2013, eliminating a key risk that faces Cable peers.”
DIRECTV closed on Thursday at $50.21.
Latest Ratings for DTV
|Feb 2015||Brean Capital||Downgrades||Buy||Hold|
|Feb 2015||Buckingham Research||Downgrades||Buy||Neutral|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.