Advertisement
UK markets open in 1 hour 48 minutes

  • NIKKEI 225

    38,773.02
    +536.95 (+1.40%)
     

  • HANG SENG

    18,420.38
    -157.92 (-0.85%)
     

  • CRUDE OIL

    78.62
    +0.14 (+0.18%)
     

  • GOLD FUTURES

    2,331.00
    -0.20 (-0.01%)
     

  • DOW

    38,852.27
    +176.59 (+0.46%)
     

  • Bitcoin GBP

    50,521.69
    -546.33 (-1.07%)
     

  • CMC Crypto 200

    1,363.64
    +51.02 (+3.89%)
     

  • NASDAQ Composite

    16,349.25
    +192.92 (+1.19%)
     

  • UK FTSE All Share

    4,469.09
    +22.94 (+0.52%)
     

BUZZ-Sky: strong performance getting harder for bears to swallow

Reuters - UK Focus

** Latest positive Sky (Other OTC: BSYBF - news) results make sell-side bearishness increasingly difficult to justify

** Co reported 20 pct 9-month profit jump on Tuesday, hit series of subscriber records in UK, Italy and Germany

** Shares (Berlin: DI6.BE - news) at a 14 year high, up 22 pct YTD, but already cautious sell-side becoming more bearish, not less

** 6 "buy", 15 "hold", 7 "sell" against 10 "buy", 9 "hold", 8 "sell" 90 days ago

** Mean analyst target price is 14 pct below current share price

** Sky makes list of 30 stocks on the Stoxx 600 trading furthest below the mean price target, according to Thomson Reuters data

ADVERTISEMENT

** Major concern has been customer churn rate, but latest results show rate falling to 10.1 pct from 11 pct despite upcoming price increase

** No alarm bells on valuation: 10.4x fwd EV/EBITDA v 11.7x for ITV (LSE: ITV.L - news) , 3.4 pct div yield (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)