DTV: DirecTV Dips on Analyst Downgrade
Reports are also circulating of a merger with AT&T
Shares of DirecTV (DTV) fell almost 4% in Thursday trading after the satellite TV provider’s stock was downgraded by an investment firm.
DTV shares slid after Buckingham Research analysts lowered their rating for DTV stock from “Buy” to “Neutral,” WKRB notes.
On Monday, DTV shares rose after DirecTV posted lower quarterly earnings that still topped analysts’ forecasts.
Yesterday, Reuters reported that DTV was considering a possible merger with AT&T (T). According to the report, DTV’s board is consulting with Goldman Sachs (GS) over a potential deal with AT&T. The news sent DTV shares up sharply in Wednesday trading.
On Wednesday, DTV stock closed at $88.25 per share.
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