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DIRECTV (DTV) Price Target Lowered To $55 By Deutsche Bank, 'Buy' Reaffirmed

 February 15, 2012 03:01 PM

Deutsche Bank (DB) lowered its price target on DIRECTV (NASDAQ:DTV) to $55 from $58, while reaffirming its "Buy" rating on the stock.

The bank wrote that DTV benefits from its higher-end customer base, leading brand, advantaged distribution and fast growing LatAm.

"Enthusiasm is moderated by the potential impact of slowing growth or greater Latam competition on valuation, any housing recovery might disproportionately benefit cable, and the higher '12 /'13 capex investment pushes off FCF," DB said in a note to clients.

On Wednesday, the stock rose 1.6% to $46.62. The shares have been trading between $39.82 and $53.40 over the past year.

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