Ten Network Holdings Limited

TEN Details
 
Relief for commercial free-to-air television broadcasters:Ten Network Holdings Limited (ASX: TEN) surged up 20.45% on May 08, 2017 over the proposed reform media measures that might help lower or remove media ownership laws (including the 75 per cent reach rule) and broadcasting fees while bringing a wave of consolidation across the sector. The group has become a prime takeover target since poor result sent its share price to record lows late last month and the stock has declined 74.4% over past three months (as at May 05, 2017). Ten had reported a A$232 million loss in H1FY17, and informed it requires a loan to continue operations and cited that the group’s future is in the hands of debt guarantors.
 
Recommendation:We give an “Expensive” rating on the stock at current market price of $ 0.26

Nine Entertainment Co. Holdings Limited

NEC Details
Sector-driven Improvement: Nine Entertainment Co. Holdings Limited (ASX: NEC) moved up 5.34% on May 08, 2017 like other peers at the back of proposed scrapping media ownership rules. For H1FY17, NEC reported 4% decline in revenue to $663 million while posting 2% fall in net profit to $75 million.
Recommendation:The stock has moved up 29.7% over the past three months (as at May 05, 2017) on better than expected results, and is trading near its 52-week high price. We give a “Hold” recommendation on stock at the current price of $ 1.38

South32 Limited

S32 Details
Steadiness in commodity prices helped the rebound:South32 Limited (ASX: S32) has risen by 2.7% on May 08, 2017 in line with the sectoral news and gains in metals and mining sector with some steady state attained for commodity prices while the group Is progressing well on its share buy-back program. Over the past twelve months, S32 stock moved up by 67.4% (as at May 05, 2017) driven by better H1FY17 results. The company reported 8% revenue growth and 1742% yoy earnings growth, respectively, at US$3.2 billion, US$479 million for H1FY17.
 
Recommendation:Given the trading scenario, we give a “Hold” recommendation on stock at the current price of $ 2.69

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