Citigroup Downgrades DIRECTV to Hold; PT $38 (DTV)
Friday, March 19, 2010 - 08:47
Written on Fri, 03/19/2010 - 8:47am
By Chip Brian

3/19/2010-Citigroup Downgraded DIRECTV (NASDAQ:DTV) from Buy to Hold with a $38 price target as the bank believes most good news for the stock is priced in.
Analyst Jason B Bazinet said, "If churn remains stable and DirecTV continues to buy back large number of shares, then investors could see a modest upside of $3 to the stock price by 2010.
Bazinet continued, "While premium valuation is justified, also suggests little room for out performance. In effect, risks (higher churn) and rewards (healthy cash flow and buybacks) more balanced. As such, we're downgrading from Buy to Hold and maintaining our $38 target."
For 2010, the bank expects the company to report EPS of $2.27 versus consensus estimates of $2.29.

Keywords: directv Citigroup Downgrade rating price target

Ticker(s): DTV

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