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Cable Nets Spur Growth For USA

UBS Warburg analyst Kurt Billick initiated coverage of USA Networks Inc. with a "strong buy" rating, setting a target price of $33 per share. In a research note, Billick wrote that the company is well positioned for the convergence of television and Internet entertainment through its cable-television networks, which include Sci Fi Channel, USA Network and Home Shopping Network. USA Networks also owns online ticketing company Ticketmaster/CitySearch Online. "Strong advertising markets should ensure that the cable networks are a significant contributor to the company's future growth," he wrote. USA Networks stock closed at $21.50 per share May 17, down $1.44.