Morgan Stanley has upgraded its investment rating on Sky (LON:SKY) to 'overweight' (from 'equal weight') which it says is the first time in four years, believing the shares have been oversold after the sharp decline since the beginning of the year.
The broker said: "Newsflow may improve starting with the CMD on October 22nd.
"After the down year in FY17, we forecast 13% pa eps growth FY17-21 as Sky pursues its long-term target of 100p of eps.
"Sky now trades at close to its lowest market relative multiple in the last decade."
However, analysts have lowered their price target slightly to 1,000 pence per share (from 1,025 pence).
At 2:31pm: (LON:SKY) Sky Plc share price was +15.75p at 855.75p