B
SkyB doesn’t declare its results until January 28, but the analysts are already busy with their expectations. One investment bank, Morgan Stanley, says it expects news that will “surprise positively” in terms of net DTH additions.
Morgan Stanley says there is anecdotal evidence pointing to “strong trading” for B
SkyB, and that “our base-case forecast is for net DTH additions of 147,000 vs 167,000 in Q2 2008. While down year-on-year, this is still a very solid number in the context of the consumer downturn.”
The report forecasts that
Sky would declare Dec 31 numbers of more than 8.83m DTH subscribers. Morgan Stanley expects
Sky’s broadband subs to more than top 1 million, at 1.199m (they were 939,000 at the end of Sept 2008).
Sky+ additions come in at 434,000 for the quarter year, and 64,000 new HDTV subs.
But importantly the bank suggests that
Sky is “relatively resilient to the economic downturn, and that, at the same time, management is keeping tight control of costs. We remain Overweight, with a price target of 525p.”
Source:RapidTVNews
21-01-2009
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