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British Sky Broadcasting up after broker upgrades
January 14, 2014 11:47 amVideo
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British Sky Broadcasting (BSY.L) has recieved a boost after bank UBS upgraded their rating to BUY from Neutral.
UBS said: “We think trading at Sky (BSkyB) will remain resilient despite competition from the new BT Sport channel. We do not think the economics for BT Sport stack up and expect Sky to agree a wholesale deal with BT on sports at some point in 2014.
“We think investors have overlooked significant growth from new initiatives such as Adsmart, NowTV, Sky Go Extra and Entertainment Extra+ that could add £212m to profits by 2018.”
UBS has upped its target price for British Sky Broadcasting from 880p to 1100pp this morning.
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