Shares in BSkyB rise 4.1 percent, among the top gainers
on the FTSEurofirst 300, as UBS upgrades the satellite
television group to "buy" from "neutral" and adds the stock to
its 'Most Preferred' list.
"For BSkyB, competitive concerns are priced in and market
has underestimated growth upside from new initiatives, whilst
M&A provides further upside," UBS says in a note in which it
considers its preferences in the European media sector.
UBS's stance now sits above that of the broader market,
where a majority of analysts rate BSkyB as a "hold", according
to Thomson Reuters Starmine data.
News of an ongoing buyback of shares by BSkyB is also behind
the rally on Tuesday, traders say.
UBS also adds professional information services firm Wolters
Kluwer to its 'Most Preferred' list. Its shares rise
Meanwhile, it adds Vivendi, Informa and
Lagardere to its 'Least Preferred' list. Their shares
suffer respective falls of 0.4 percent, 0.9 percent, and 0.2