New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 19, 2014
08:22 EDTSNIScripps Networks upgraded to Buy from Hold at Argus
News For SNI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
August 20, 2015
10:36 EDTSNIScripps Networks names president Burton Jablin as COO
Subscribe for More Information
09:17 EDTSNIDisney hit with another downgrade on TV concerns
Subscribe for More Information
06:36 EDTSNIBernstein cuts Disney, Time Warner with TV entering 'structural decline'
Bernstein analyst Todd Juenger downgraded his rating on both Disney (DIS) and Time Warner (TWX) saying the U.S. television industry is entering a period of "prolonged structural decline." With viewers moving away from ad-supported platforms to non-ad-supported, media companies with the least exposure to U.S. advertising represent the most favorable investments, Juenger tells investors in a 48-page research note on the Media sector. The analyst moved both companies to a Market Perform rating from Outperform, and lowered his price target for Disney to $114 from $125 and for Time Warner to $90 from $101. He called the downgrade of Time Warner a "very close call" as his new price target still represents 15% upside from current levels. Share performance in the entire Media sector will be challenged until the content owners take steps to "reclaim on-demand viewing" from streaming services like Netflix (NFLX) and use it to protect affiliate fees, Juenger argues. His Outperform-rated names are Nielsen (NLSN) and 21st Century Fox (FOXA). Along with Time Warner and Disney, the analyst has Market Perform ratings on AMC Networks (AMCX), CBS (CBS), Scripps Networks (SNI) and Discovery (DISCA). Juenger has an Underperform rating on Viacom (VIAB). Wells Fargo on Tuesday also downgraded Disney to Market Perform. Piper Jaffray this morning told investors that the recent pullback in shares of AMC Networks brings a "great" entry point into the name.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use