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Search resuls for: "Steven Cahall"


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☆ Here are the 10 Dow stocks analysts think will see the most gains in 2023
  + stars: | 2022-12-22 | by ( Michelle Fox | ) www.cnbc.com   time to read: +2 min
With that in mind, CNBC Pro looked at stocks in the Dow that have the most upside to the average analyst price target, per FactSet. Salesforce takes the top spot, with nearly 50% upside to the average analyst price target. Tech giant Apple could also see big gains, with the average analyst price target implying upside of 28%. The stock has had a lackluster year, losing 25%, but 62% of analysts covering Apple rate it a buy. 4 spot with nearly 21% upside to the average analyst price target.
☆ Disney should spin off ESPN and ABC, analyst says
  + stars: | 2022-12-20 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +4 min
But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue, dying) businesses. Cahall wrote in his report that “we think Bob Iger is returning to {Disney] ready to make big changes. ESPN, in theory, may have an easier time negotiating with sports leagues as part of a pure play media network. “We think ESPN and ABC are integrally linked as the broadcast [network] improves negotiations in sports rights, and we’re seeing more of those sports on both networks,” he wrote.
☆ Wells Fargo sees Disney rallying nearly 50% next year if Iger makes this big move
  + stars: | 2022-12-20 | by ( Michelle Fox | ) www.cnbc.com   time to read: +1 min
Spinning off ESPN and ABC from Disney is the best move that CEO Bob Iger can make for the entertainment giant and its stock, according to Wells Fargo. The bank is predicting the split will likely come in late 2023, after Disney implements cost-cutting and balance-sheet initiatives. "Recall that Iger built DIS into what it is today: a franchise [intellectual property] leader with global scale. ESPN, traditionally the cash cow, is neither owned-IP nor global the way the rest of DIS is," he wrote. We believe that there is very little reason for DIS and ESPN to remain together given the evolution of media consumption."
☆ Wells Fargo upgrades Netflix, says ad-supported video can drive stock in 2023
  + stars: | 2022-12-09 | by ( Fred Imbert | ) www.cnbc.com   time to read: +1 min
Netflix could have a strong 2023 thanks to its newly implemented ad-supported video tier, Wells Fargo said Friday. "Our deep dive into NFLX sees content improving churn, while AVOD [advertising-based video on demand] and paid sharing improve estimates." The analyst sees revenue growth of 7% in 2023, noting that sales "should benefit from advertising, paid sharing, and lower SVOD [subscription video on demand] churn/pricing post the AVOD launch. The streaming stock is down 48.5%, on pace for its third-worst annual performance ever. Paid sharing refers to the company's crackdown on password sharing — another potential revenue booster.
☆ Analysts cheer Iger's return to Disney; MoffettNathanson upgrades and sees 30% upside
  + stars: | 2022-11-21 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
Wall Street analysts broadly approved of Bob Iger's return to Disney . MoffettNathanson's Michael Nathanson upgraded Disney to outperform from market perform, and raised his price target, on the news of Iger's return. His $120 price target represents roughly 30.7% upside from Friday's closing price of $91.80. Iger's return comes less than a year after Bob Chapek took the reins as chief executive. Meanwhile, Wells Fargo's Steven Cahall said Iger's return is a "positive surprise," as it is viewed by investors as a catalyst for the stock.
☆ Paramount Global shares jump after Warren Buffett's Berkshire Hathaway increases stake
  + stars: | 2022-11-15 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +2 min
Paramount Global 's stock got a boost Tuesday after Warren Buffett's Berkshire Hathaway upped its stake, a fresh signal that the media and entertainment company could be an acquisition target. Berkshire disclosed in public filings late Monday that it now owns more than 91 million shares in Paramount. Buffett's firm first disclosed its new stake in Paramount in May. Paramount is controlled through its class A shares by National Amusements, chairman Shari Redstone's holding company. Paramount owns "Top Gun: Maverick" movie studio Paramount Pictures, as well as the broadcast network CBS, cable channels including MTV and VH1, the premium network Showtime, and fledgling streaming service Paramount+.
☆ Paramount investors seem 'squeamish' about cash burn, says Wells Fargo's Steven Cahall
  + stars: | 2022-11-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailParamount investors seem 'squeamish' about cash burn, says Wells Fargo's Steven CahallSteven Cahall, Wells Fargo, joins 'Squawk on the Street' to discuss the market's response to Paramount's earnings, how long it will take for streaming companies to turn a profit and how Cahall sees Netflix's ad-supported tier playing out.
☆ 'Best smidcap stock that investors don't know about' is in billboards and broadband, Wells Fargo says
  + stars: | 2022-11-01 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
Boston Omaha, an outdoor advertising and broadband telecom services company, is "the best smidcap stock that investors don't know about," according to Wells Fargo. Wells Fargo analyst Steven Cahall raised the price target to $34 (from $27), implying shares of Boston Omaha can surge roughly 22% on the back of strong internal and external growth. "We're raising 2022/23 EBITDA at Billboards and Broadband, as organic growth remains solid. Boston Omaha shares have outpaced the S & P 500 this year, down nearly 3% compared to the roughly 19% decline in the broader market index. "We think BOC likes to find mid-stage growth businesses that have long-term ROICs and would benefit from expansion capital," Cahall wrote.
☆ Wells Fargo downgrades Paramount to underweight, sees shares declining more than 30% from here
  + stars: | 2022-10-31 | by ( Sarah Min | ) www.cnbc.com   time to read: +1 min
It's time to sell Paramount as it struggles with both its cable and streaming businesses, according to Wells Fargo. Analyst Steven Cahall downgraded shares of Paramount to underweight from equal weight, saying that his view on cable and streaming TV has worsened in the past few weeks. Shares of Paramount are down nearly 37% this year as the media company contends with cord cutting amid a broader transition to streaming. The analyst said he expects that Paramount is being traded at a premium compared to media peers such as Warner Bros. Cahall cut his price target on Paramount to $13 from $19, implying roughly more than 30% downside from Friday's closing price of $19.02.
☆ Stocks making the biggest moves midday: Wynn Resorts, TuSimple, Newell Brands, First Solar and more
  + stars: | 2022-10-31 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +4 min
Newell Brands – Shares of Newell Brands, a consumer goods manufacturer, slipped 7.3%. Paramount Global –Shares of Paramount Global shed 3.6% after being downgraded by Wells Fargo Securities to underweight from equal weight. Meta Platforms – Shares of Meta Platforms fell 5.5%, leading declines in megacap technology stocks following disappointing earnings results last week. The firm has an equal weight rating on the stock. Amgen — The biopharma stock dipped 1.5% after Barclays downgraded Amgen to underweight from equal weight, saying investor enthusiasm ahead of an obesity drug update next week may be overdone.
☆ Why analysts say Netflix's third-quarter results signal the start of a 'narrative defining period'
  + stars: | 2022-10-19 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
Netflix 's subscriber turnaround in the third quarter signaled to many that the streaming giant's troubles are behind it. But some analysts warn the company isn't out of the woods just yet and the stock is entering a defining period. The streaming giant on Tuesday reported subscriber growth of roughly 2.4 million, topping expectations set by analysts, after back-to-back quarters of subscriber losses. That said, Morgan Stanley's Benjamin Swinburne wrote in a note to clients that the stock is overstating Netflix's outlook ahead. But without a boost in the pace of streaming growth, he sees difficulty for Netflix to surpass 10% growth in the foreseeable future.
☆ What Netflix's earnings beat tells us about Club holding Disney
  + stars: | 2022-10-19 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +6 min
Subscriber growth We think Netflix's quarter offers a positive read-through for Disney on the streaming front. That's important, even though we've argued for months that Wall Street's intense focus on Disney's streaming ambitions means the company's booming theme park business gets somewhat overlooked. Netflix brought its streaming service to over 130 countries across the world more than three years before Disney's flagship streaming service, Disney+, hit the U.S. and Canadian markets in the fall of 2019. Even in a period of decline for Netflix, Disney+ was able to keep growing solidly. Analysts expect the company to have added 9.1 million Disney+ subscribers in its fourth quarter, according to FactSet.
☆ Streaming TV ad spend is expected to surge to $19 billion in 2023 — but it will 'cannibalize' traditional TV ad revenues, a Wells Fargo analyst says
  + stars: | 2022-10-18 | by ( Elizabeth Pham Janowski | ) www.businessinsider.com   time to read: +2 min
Streaming TV ad spend will rise to $19 billion next year, a Wells Fargo analyst said, compared to 4.3 billion in 2019. Discovery have already been hit by scatter market declines. Next year will see a huge shift in ad spend from traditional TV to streaming, according to a Wall Street analyst. Steven Cahall, a managing director and senior analyst at Wells Fargo, said at the ad industry conference Programmatic I/O that streaming TV ad spend will be $19 billion by 2023 and will make up over 20% of total TV spend, compared to 6% in 2019. Instead, over the next two years, Cahall said, the surging growth of streaming TV advertising is going to "cannibalize real dollars out of linear television."
☆ Why major analysts say Disney's subscriber guidance needs to come down
  + stars: | 2022-08-10 | by ( Samantha Subin | ) www.cnbc.com   time to read: +3 min
As Disney prepares to report earnings Wednesday, major analysts fear further disappointment is in store for investors as streaming subscriber estimates remain too high and need to come down. The entertainment giant has said it plans for its Disney+ streaming service to have between 230 million and 260 million subscribers by the end of 2024. Wells Fargo's Steven Cahall agrees that Disney needs to trim back its streaming goals. Although the bank remains bullish on the company and the continued progression of its Disney+ business, it cut 2024 streaming estimates to 213 million from 240 million. To be sure, there are some potential bright spots that could keep Disney on track to reach its target.
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