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DirecTV: Citi Downgrades; Says Good News Already Priced In

DirecTV shares are modestly lower this morning after Citigroup analyst Jason Bazinet cut his rating on the stock to Hold from Buy. He maintains a $38 price target on the shares. The analyst notes that the satellite TV service operator trades at a premium to rival Dish Network, at 12.8x estimated 2010 unlevered free cash flow, versus 10.3x for DISH.

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Will Comcast Buy Time Warner Cable?

In a bold and controversial call, Citigroup analyst Jason Bazinet this morning proposed a cable industry mega-deal: he thinks Comcast should buy Time Warner Cable.