Sky Plc (NASDAQ:SKYAY) Upgraded to Buy at Zacks Investment Research

Sky Plc (NASDAQ:SKYAY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday, July 22nd. The brokerage presently has a $56.00 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 14.10% from the company’s previous close.

According to Zacks, “Sky plc offers entertainment and communications service. The Company offers Sky TV, on demand television programs; Sky Broadband offers broadband and telephony services; NOW TV is a streaming service and provides access to the Sky’s content; Sky Sports’ channels broadcast live sport, news and analysis, from football and golf to cricket and tennis; Sky Entertainment offers entertainment channels Sky 1, Sky Living, Sky Atlantic and Sky Arts; Sky News provides news and analysis; Sky Media is an advertising sales house and offers advertisers access to television channels; Sky Business provides Sky’s television and WiFi services; Sky Bet offers online betting and gaming services. Sky plc formerly known as British Sky Broadcasting Group plc is based in Isleworth, the United Kingdom. “

Separately, Jefferies Group LLC upgraded Sky Plc from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Sky Plc currently has a consensus rating of “Hold” and a consensus target price of $56.00.

Sky Plc (SKYAY) traded up 0.06% during midday trading on Friday, reaching $49.08. 9,358 shares of the company traded hands. Sky Plc has a 12-month low of $37.23 and a 12-month high of $52.91. The company has a 50-day moving average price of $50.47 and a 200-day moving average price of $50.03. The company has a market cap of $20.99 billion and a price-to-earnings ratio of 23.60.

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Sky Plc Company Profile

Sky plc is an entertainment and communications company. The Company is engaged in operation of pay television broadcasting and home communications services, including provision of broadband and telephone operations. It operates through three segments: UK and Ireland, which includes activities and operations of the pay television, home communications and adjacent businesses in the United Kingdom and Ireland; Germany and Austria, which includes activities and operations of the pay television and adjacent businesses in Germany and Austria, and Italy, which includes activities and operations of the pay television and adjacent businesses in Italy.

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