trending Market Intelligence /marketintelligence/en/news-insights/trending/7pcgu4ncpspnxpbqn4abfa2 content esgSubNav
In This List

Macquarie downgrades Comcast after Sky takeover interest

Blog

Europe: 5 key OTT trends to watch in 2022

Blog

Broadcast deal market recap 2021

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix


Macquarie downgrades Comcast after Sky takeover interest

Macquarie Research analyst Amy Yong downgraded Comcast Corp. to "neutral" from "outperform," citing concerns over the company's acquisition strategy, CNBC reported Feb. 28.

The ratings action follows the company's announcement of a cash proposal of £12.50 per share for British pay TV giant Sky plc. Comcast said its proposal represents a 16% increase in value over the existing 21st Century Fox Inc. offer for Sky.

Yong, who reduced her price target on Comcast stock to $42 from $47, reportedly said in a research note that while Comcast's potential "to expand internationally" and "double its scale" is great, "uncertainty around the M&A playbook and increased net leverage to 3x marks a shift in what would otherwise be a clean thesis."