Home Entertainment A Wall Street entertainment analyst explains what the return of sports means for media stocks — and breaks down a top pick for the 2nd half of 2020 (CMSCA) | Markets Insider

A Wall Street entertainment analyst explains what the return of sports means for media stocks — and breaks down a top pick for the 2nd half of 2020 (CMSCA) | Markets Insider

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A Wall Street entertainment analyst explains what the return of sports means for media stocks — and breaks down a top pick for the 2nd half of 2020 (CMSCA) | Markets Insider

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nba coronavirus season canceledDavid Santiago/Miami Herald/Tribune News Service via Getty Images

  • Tuna Amobi, senior media and entertainment equity analyst at CFRA said the return of sports will slow cord-cutting as viewers flock to live-TV games.
  • Amobi said the lockdown caused a “pent-up demand” to watch sports.
  • The entertainment analyst said Comcast remains one of his favorite names right now.
  • Read More on Business Insider.

Tuna Amobi, senior media and entertainment equity analyst at CFRA, said the return of sports will help media companies that stream games. Sports are the “major glue that holds the paid-TV ecosystem together,” he told CNBC’s “Squawk Box” on Friday. 

The entertainment analyst said this appetite for live sports will decelerate the cord-cutting caused by the COVID-19 lockdown. He added, “People are likely to subscribe to paid-TV when you have the leagues back.”

The NBA resumed its season on Thursday after a four-month suspension for the coronavirus pandemic, while the NFL, which Amobi said will be the “big kahuna,” is scheduled to resume in September. 

Read more: 200-plus money managers pay thousands to set eyes on Jim Osman’s stock buy list. Here are 2 he says are set to soar — and an under-the-radar IPO to keep a watch on

Amobi holds a “strong buy” rating for Comcast, and “buy” ratings for major media companies Disney, ViacomCBS, and Fox. Comcast is one of his “favorite names right now,” due to its better-than-expected performance last quarter. While Comcast’s theme parks, advertising, and film studio were “whacked” by the pandemic, he said other areas of the company, like its internet service, have performed well throughout.

“The next few quarters provide some volatility, but the core cable business led by high-speed broadband continues to outperform expectations,” he said.

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