Market Overview

Barclays Revises Estimates On 11 Internet & Media Companies

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In a report published Friday, Barclays analyst Kannan Venkateshwar briefly commented on the growing surge of popularity of Internet video and how investors can gain exposure to the theme while also updating investors on 11 stocks under coverage.

According to Venkateshwar, 40 percent of U.S. homes have access to at least one OTT (over-the-top) platform which gives them the ability to access content on their TV through an Internet stream. As such, the proportion of time spent on the Internet has nearly tripled from 13 percent in 2009 to 37 percent in 2014.

The analyst did note, however, that the data still concludes the scale of viewership on OTT is still "materially" smaller than TV.

U.S. Cable & Satellite Communications Estimate Revisions

  • Shares of AMC Entertainment Holdings Inc (NYSE: AMC) were maintained with an Overweight rating with an unchanged $30 price target.
  • Shares of Gannett Co., Inc. (NYSE: GCI) were maintained with an Equal-Weight rating with a price target raised to $28 from a previous $27.
  • Shares of Liberty Media Corp (NASDAQ: LMCA) were maintained with an Overweight rating with a price target maintained at $44.
  • Shares of New York Times Co (NYSE: NYT) were maintained with an Equal-Weight rating with a price target lowered to $14 from a previous $15.
  • Shares of TiVo Inc. (NASDAQ: TIVO) were maintained with an Equal-Weight rating with an unchanged $13 price target.

U.S. Media Estimate Revisions

  • Shares of CBS Corporation (NYSE: CBS) were maintained with an Equal-Weight rating with a price target lowered to $53 from a previous $55.
  • Shares of Discovery Communications Inc. (NASDAQ: DISCA) were maintained with an Overweight rating with a price target lowered to $34 from a previous $35.
  • Shares of Time Warner Inc (NYSE: TWX) were maintained with an Equal-Weight rating with a price target raised to $80 from a previous $79.
  • Shares of Twenty-First Century Fox Inc (NASDAQ: FOXA) were maintained with an Overweight rating with a price target lowered to $39 from a previous $42.
  • Shares of Viacom, Inc. (NASDAQ: VIA) were maintained with an Underweight rating with a price target maintained at $67.
  • Shares of Walt Disney Co (NYSE: DIS) were maintained with an Equal-Weight rating with a price target raised to $94 from a previous $90.

Latest Ratings for DIS

DateFirmActionFromTo
Dec 2020CitigroupMaintainsBuy
Dec 2020UBSMaintainsNeutral
Nov 2020RBC CapitalUpgradesSector PerformOutperform

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Posted-In: Barclays cable Kannan Venkateshwar OTTAnalyst Color Price Target Analyst Ratings Tech

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