Media
Goldman Sachs Upgrades U.S. Media Sector to Attractive (GS, DIS, LAMR, TWX, IMAX, VIAB)
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Citing solid growth and a surging demand in the need for professional content, Goldman Sachs Group Inc. (NYSE: GS) upgraded the U.S. media sector to Attractive from Neutral today. The bulge bracket brokerage firm is now anticipating a strong second half of the year in 2013 for advertising growth by the companies in their coverage universe. In addition, more social media opportunities also are on the horizon. The following companies were reiterated with Buy ratings:
The Walt Disney Co. (NYSE: DIS) closed Friday at $52.34. The street consensus is $56.
Lamar Advertising Co. (NASDAQ: LAMR). The stock closed Friday at $42 and the street target is $43.
Time Warner Inc. (NYSE: TWX) closed Friday at $49.93. The consensus target is $51.
IMAX Corp. (NYSE: IMAX). Off a Friday close of $23.38, the target is $27.50.
In addition to these names Goldman Sachs upgraded Viacom Inc. (NASDAQ: VIAB) to buy. Trading Friday at $57.88, it has a Thomson/First Call price target of $62.
The strength to this list is the diversity. There is a leading name from every sector of U.S. media.
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