Liberty Entertainment a buy

Collins Stewart, the broker that forecast doom and gloom for BSkyB last week, was busy again recommending Liberty Entertainment with a buy rating saying the next three to nine months will be “pivotal” for the company and its stake in DIRECTV. The nod from the analyst came as Liberty Media continues to position Liberty Entertainment from a tracking stock to an asset-based stock. It said its recommendations were supported by “the strong DIRECTV fundamentals and the significant discount at which Liberty Entertainment trades versus its NAV.”

Eagan added, “We expect the strong DIRECTV fundamentals will continue through 2009 aided by the February 2009 digital TV migration and the roll out of the AT&T triple play partnership.”

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