NEW YORK (TheStreet) -- DirecTV (DTV) shares had coverage initiated with a "hold" rating and $95 price target by analysts at Canaccord Genuity (CCORF) on Wednesday.
The firm notes that with 20 million subscribers, DirecTV is the country's leading satellite television provider and the pending merger with AT&T (T) could yield higher than expected synergy targets for the two companies.
"We continue to believe that the announced synergy targets by AT&T remain highly conservative. Should the combined entity be successful at better cross-selling services, we believe the stock price performance could track prior large deals," said the firm.
DirecTV shares are down 0.2% to $86.42 in early market trading today.
Separately, TheStreet Ratings team rates DIRECTV as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate DIRECTV (DTV) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share and increase in net income. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."