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DirecTV’s Latin America business issued positive long- and short-term guidance,...

DirecTV’s Latin America business issued positive long- and short-term guidance, a Sanford Bernstein analyst said in a note. “Both were in line with our above-market projections,” said analyst Craig Moffett. “We are converted DirecTV bulls, largely on the strength of…

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our conviction that the Latin American business is markedly undervalued.” Even with a cautious view of the U.S. business, “we believe DirecTV’s shares are too cheap,” he said.