Wells Fargo Securities media analyst Steven Cahall initiated coverage of the cable distribution sector on Tuesday, citing the businesses’ strength in broadband service, but joining the growing chorus of analysts calling for Comcast to spin off its NBCUniversal programming unit. Cahall, who already covers cable programmers, initiated the sector with an “overweight” rating on Cable One and Charter; “equal weight” for Altice USA and “underweight” for Comcast.
“Smaller-scale services like Starz and AMC Networks’ might be better off folded into larger platforms,” writes Wells Fargo’s Steven Cahall.
Wells Fargo Securities media analyst Steven Cahall raised his outlook on ViacomCBS Thursday from “Underweight” to “Equal Weight” and increased his 12-month price target on the stock to $30 per share from $19 per share, citing the programmers aggressive moves in the streaming video space.
