3 Media Stocks in Focus: Netflix Rides MKM Target, Disney Settles With Dish, News Corp.’s Scribd Project
Netflix (NASDAQ:NFLX): Netflix has been awarded a generous price target hike from MKM Partners based on the firm’s view that the streaming service’s international subscriber totals will surprise; MKM’s thesis on Netflix is more focused on global mass penetration than pricing in the United States. Netflix, now trading just shy of $320, has been hit with a $370 price target by the firm.
Walt Disney Co. (NYSE:DIS): Disney and Dish Network (NASDAQ:DISH) have inked a short-term contract extension that will prevent a blackout of Disney-owned networks for Dish’s subscribers. However, media observers and analysts speculate that Dish CEO Charlie Ergen could still take a hard stance in negotiations with Disney, but pushing the bigger battle over carriage fees past the football season might be in its best interest.
News Corp. (NASDAQ:NWS): News Corp.-owned HarperCollins has launched an e-book subscription service with partner Scribd, which will allow a Netflix-type model to be applied to the e-book segment. Though it’s been tried before, “the HarperCollins-Scribd version of new media meets old media is a fresh spin,” Seeking Alpha says. Scribd sports 80 million users.