Cable, Satellite TV Stocks Should Outperform Market In 2003
After a “pretty dismal 2002,” both cable and satellite TV stocks should outperform the rest of the market this year, predicted Douglas S. Shapiro, a satellite and cable analyst with Bank of America Securities.
Fundamentally, both the cable and satellite TV stock groups are “inexpensive” and likely to rise in value compared to others, Shapiro said. EchoStar Communications Corp. [Nasdaq: DISH] and DirecTV Inc. owner Hughes Electronics Corp. [NYSE: GMH] are currently undervalued, he added.
A possible catalyst for satellite TV stocks is the possible sale of Hughes to a new buyer after its proposed sale to EchoStar failed to win regulatory approval last year.