Content-Centric Subscribers Should Benefit Buy-Rated DTV, Goldman Sachs Reports

In a 3Q preview of communication services, Goldman Sachs reports that exposure to higher end, and content-centric subscribers should benefit Buy-rated DirecTV DTV, while the lower end of the market remains under pressure -- DISH Network Corporation DISH being at risk. Speaking about DirecTV, Goldman Sachs writes: “The company announced a $2.0B authorization in August, augmenting the $1.2B remaining on a previous authorization; however, we believe the company could easily surpass these amounts before year end (GS est: $3.25B in buybacks in 2H10) and the company could announce additional returns of capital at its December analyst day.” DirecTV currently trades for $42.89; DISH Network trades for $19.16.