Banc of America analyst Doug Shapiro has made DirecTV one of his top picks, suggesting in a research note released late last week that the satellite TV company should see continued strong growth for its subscriber base.
"DirecTV has crept up the list of analysts' favorite stocks over the last few months," he said. "But we think it's far from too late to jump on the bandwagon."
Shapiro said DirecTV's subscriber-growth momentum should continue near term thanks to the recent ramp up in local TV markets, a potential resolution of the situation involving the National Rural Telecommunications Cooperative and Pegasus, and a more concentrated second quarter marketing push from the company.
Shapiro and Banc of America said it expects DirecTV net adds to be about 230,000, up about 25 percent when compared to the same period in 2003. "Although we think this will prove conservative," the analyst said.
230,000 Installs On the Way
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