Merrill Lynch has downgraded BSkyB stock from accumulate to neutral, following yesterday’s financial results. Cable subscriptions revenues fell and the incorporation of losses from interactive TV services company Open hit revenues harder than had been expected by both Merrill and ABN Amro (see City News).
By the end of trading yesterday BSkyB stock was down 30p at 1,070p.
ABN Amro: Hold Merrill Lynch: Neutral Goldman Sachs: Recommended SG Securities: Hold JP Morgan: Market Perform, £10 target
