Sky: Liberum upgrades to 'buy' - sees an opportunity.
(CercleFinance.com) - Liberum has upgraded its rating on the Sky stock from "hold" to "buy," maintaining its target price at 1,060 pence, on the back of the British pay-TV group's "broadly healthy" first-quarter results.
The brokerage firm adds that the shares have now fallen back to 913.5 pence, which represents a significant discount to the 1075 pence Fox bid, which does not reflect the likelihood of the Fox bid being cleared for Sky by regulators.
"Thus we think Sky offers a short-term investment opportunity," Liberum wrote in a research report.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The brokerage firm adds that the shares have now fallen back to 913.5 pence, which represents a significant discount to the 1075 pence Fox bid, which does not reflect the likelihood of the Fox bid being cleared for Sky by regulators.
"Thus we think Sky offers a short-term investment opportunity," Liberum wrote in a research report.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.