Pivotal Research

Company history

Jeffrey Wlodarczak, formerly a media and communications analyst at Donaldson, Lufkin & Jenrette, CIBC World Markets and Wachovia, founded Pivotal Research Group in New York in January 2010 with other sell-side research veterans. Its coverage has at times extended to advertising, technology, food, beverage, retail and apparel sectors alongside its core media and communications franchise. The firm remains privately held and research-only.

1. 2010Jeffrey Wlodarczak founds Pivotal Research Group in New York

Research

Coverage concentrates on internet, media, sports, space and communications, including streaming platforms, cable operators and the Liberty Media family of companies; the firm covered 35 companies as of June 2020. It sells research to hedge funds and mutual funds and offers no investment banking. Ratings reflect expected absolute 12-month total return: Buy above 15%, Hold between plus and minus 15%, Sell below minus 15%.

Coverage12M

Stocks

11

Ratings

12

Price targets

14

Median upside

+38.1%

Upgrades

0

Downgrades

1

Initiations

3

Reiterations

8

Targets raised

5

Targets cut

3

Activity24M

Most covered24M

Stock	Rating	Target	Actions	Last action
NFLXNetflix, Inc.	Buy	$96	12	Sep 8
AMZNAmazon.com, Inc.	Buy	$333	4	Jul 31
GOOGAlphabet Inc.	Buy	$420	4	Feb 5
GOOGLAlphabet Inc.	Buy	$475	4	Jul 23
SPOTSpotify Technology S.A.	Hold	$420	4	Aug 5
ROKURoku, Inc.	Buy	$160	3	May 1
CMCSAComcast Corporation	Buy	$48	2	Jan 31
METAMeta Platforms, Inc.	Buy	$780	2	Jan 30
SPCXSpace Exploration Technologies Corp.	Buy	$220	2	Sep 8
TKOTKO Group Holdings, Inc.	Buy	$195	2	Feb 27

Analysts24M

• Jeffrey WlodarczakGOOG · NFLX · LBTYA11
• Keith TapperTSHA1

Recent actions

Stock	Rating action	Rating	Target	Date
Netflix, Inc.NFLX	Initiate	Buy		Sep 8
Intel CorporationINTC	Initiate	Buy		Sep 8
Space Exploration Technologies Corp.SPCX	Initiate	Buy	$220	Sep 8
Spotify Technology S.A.SPOT	Reiterate	Hold		Aug 5
Amazon.com, Inc.AMZN	Reiterate	Buy	$320 →$333	Jul 31
Alphabet Inc.GOOGL	Reiterate	Buy	$475	Jul 23
Netflix, Inc.NFLX	Reiterate	Hold		Jul 17
TSTaysha Gene Therapies, Inc.TSHA	Target		$14	Jun 23
LBLBTYA	Target		$18	May 4

Similar coverage12M

• Rosenblatt Securities7 shared
• Wedbush8 shared
• HSBC6 shared
• Seaport Global Securities6 shared
• Susquehanna6 shared
• Guggenheim Securities8 shared

References

1. Leadership Team - Pivotalpvtl.com
2. Company Overview - Pivotalpvtl.com
3. Pivotal Research Group report with ratings and distribution disclosures (2020)hispanicad.com
4. Pivotal Research Group - LinkedInlinkedin.com