VictorTan
2021-05-04
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J.P. Morgan's short-term look finds picks, pans in telecom/pay TV<blockquote>摩根大通的短期展望发现电信/付费电视的精选和平盘</blockquote>
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Morgan's short-term look finds picks, pans in telecom/pay TV<blockquote>摩根大通的短期展望发现电信/付费电视的精选和平盘</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143573807","media":"seeking alpha","summary":"J.P. Morgan's \"Spectrum of Opportunity\" note offers a chance to re-rank telecom and pay television s","content":"<p><ul><li>J.P. Morgan's \"Spectrum of Opportunity\" note offers a chance to re-rank telecom and pay television stocks for May performance -updating its longer-term ratings with the prospect of benefiting from shorter-term catalysts (including such things as seasonality).</li><li>And turning to its top picks for May yields several names worthy of some catalyst-based attention (based on a points system it assigns to sort out how to weigh alternatives).</li><li>One is Comcast(NASDAQ:CMCSA), which is likely to keep seeing strong cable trends along with re-opening data points for its parks and film operations. It likes the stock long-term relative to megacap peers AT&T(NYSE:T)and Verizon(NYSE:VZ)\"due to strong fundamentals at cable and an improving backdrop at NBC/Sky.\" The broader market is concerned about growing broadband competition, but Comcast's trends are staying strong driven by acquisition and churn as it grows share.</li><li>Meanwhile, theme park demand is ramping, with open parks breaking even during the first quarter, and there's upside to NBC/consolidated EBITDA for 2021. It has a $62 price target.</li><li>On a slightly different time frame is T-Mobile (TMUS; reporting after the close tomorrow): It's the firm's best long-term idea (based on substantial operating efficiencies and cash flow growth for coming years), and while it's not looking for a big Q1 beat, it's still a short-term pick.</li><li>\"After a strong quarter by AT&T but soft one from Verizon on postpaid phone adds, we see upside to our postpaid phone add estimate of 400K with consensus at 450K,\" J.P. Morgan says. It's not expecting guidance increases, but there's \"ample opportunity for growth in fixed wireless, enterprise and rural markets, and the company highlighted $60B of buyback potential from 2023-2025 (we model ~$40B over that time frame due to spectrum purchases).\"</li><li>Another highly rated short-term pick is Charter Communications(NASDAQ:CHTR). Itsfirst-quarter report showed solid broadband and customer relationship growth, and despite competition fears in broadband, Charter is well positioned to keep growing penetration \"driven by its market-growth strategy and new home builds - both greenfield and fill-ins.\"</li><li>It's staying a top idea across J.P. Morgan's coverage on further broadband share gains, ongoing EBITDA growth (margin expansion), strong capital returns and ramping free cash flow generation.</li><li>Turning to its least favorite names on the spectrum, there's Cable One(NYSE:CABO), where multiples are already very high compared to public peers. Preliminary results showed EBITDA strength, unsurprising due to residential momentum, operating efficiency and synergy realization. But it's struggling with a valuation of 16.8x 2022 enterprise value/EBITDA and a 3.2% free cash flow yield, vs. pure-play peers like Charter and Altice USA (ATUS; EV/EBITDA multiples of 10.8x and 8.6x respectively).</li><li>Another least-favorite is Gogo(NASDAQ:GOGO)- where it's modeling an entire convertible issue converting to equity, diluting existing shareholders. Total revenues are set to improve after bottoming in Q2 2020, but it's still \"wary\" as it sees a 5G network buildout pushed out to 2022, allowing for a competitor to come in. That and the potential dilution are set to weigh on the shares for the \"foreseeable future.\"</li><li>And another name in disfavor is Lumen Technologies(NYSE:LUMN), which saw a heavy run-up in January after being heavily shorted. That squeeze is \"unsustainable,\" J.P. Morgan says. And it's wary about the loss of subsidies for rural connectivity. \"We struggle to become positive on the name due to falling CAF/RDOF (Connect America Fund/Rural Digital Opportunity Fund) support in 2022, where Lumen will lose nearly all of its current ~$500m CAF revenue from 2021 to 2022, at ~100% EBITDA flow-thru.\"</li><li>Lumen is still spending to enable the homes it got in the CAF-II auction, but J.P. Morgan says capital expenditures should be shifted to other parts of the business rather than just going to free cash flow generation.</li></ul></p><p><blockquote><ul><li>摩根大通的“机会谱”报告提供了一个根据 5 月份的表现重新排名电信和付费电视股票的机会——更新其长期评级，并有望受益于短期催化剂（包括季节性等因素）。</li><li>转向 5 月份的首选，会产生几个值得一些基于催化剂的关注的名字（基于它指定的评分系统，以整理如何权衡替代品）。</li><li>其中之一是康卡斯特（纳斯达克股票代码：CMCSA），该公司可能会继续看到强劲的有线电视趋势，同时为其公园和电影业务重新开放数据点。相对于大型同行 AT&T (NYSE:T) 和 Verizon (NYSE:VZ)，它长期看好该股，“因为有线电视的基本面强劲以及 NBC/Sky 的背景不断改善。”更广泛的市场担心宽带竞争日益激烈，但随着市场份额的增长，康卡斯特的趋势在收购和流失的推动下保持强劲。</li><li>与此同时，主题公园需求正在增加，开放公园在第一季度实现收支平衡，2021 年 NBC/综合 EBITDA 有上升空间。它的目标价为 62 美元。</li><li>T-Mobile（TMUS；明天收盘后报告）的时间框架略有不同：这是该公司最好的长期想法（基于未来几年可观的运营效率和现金流增长），虽然它并不是在寻找一个大的第一季度节拍，这仍然是一个短期选择。</li><li>摩根大通表示：“在 AT&T 季度表现强劲，但 Verizon 季度后付费电话充值表现疲软之后，我们看到后付费电话充值预期为 40 万部，市场普遍预期为 45 万部。”它预计不会增加指引，但“固定无线、企业和农村市场有充足的增长机会，该公司强调了 2023 年至 2025 年期间 60B 美元的回购潜力（我们预计该时间范围内约 40B 美元由于频谱购买）。”</li><li>另一个评价很高的短期选择是 Charter Communications（纳斯达克股票代码：CHTR）。其第一季度报告显示宽带和客户关系稳步增长，尽管宽带领域存在竞争担忧，但 Charter 仍处于有利地位，能够“在其市场增长战略和新房建设（包括绿地和填充）的推动下保持不断增长的渗透率”。</li><li>这仍然是摩根大通关于进一步宽带份额增长、持续的 EBITDA 增长（利润率扩张）、强劲的资本回报和不断增加的自由现金流产生的报道中的首要想法。</li><li>说到光谱中最不受欢迎的名字，有线电视一号（纽约证券交易所股票代码：CABO），与上市同行相比，其市盈率已经非常高。初步结果显示 EBITDA 强劲，由于住宅发展势头、运营效率和协同效应的实现，这并不奇怪。但与 Charter 和 Altice USA 等纯粹的同行相比，它的 2022 年企业价值/EBITDA 估值为 16.8 倍，自由现金流收益率为 3.2%，而 Charter 和 Altice USA（ATUS；EV/EBITDA 倍数分别为 10.8 倍和 8.6 倍）。</li><li>另一个最不受欢迎的是 Gogo（纳斯达克股票代码：GOGO），它正在模拟整个可转换发行转换为股权，稀释现有股东。总收入在 2020 年第二季度触底后将有所改善，但它仍然“谨慎”，因为它认为 5G 网络建设将推迟到 2022 年，从而允许竞争对手进入。这一点以及潜在的稀释将在“可预见的未来”给股价带来压力。</li><li>另一个不受欢迎的名字是 Lumen Technologies（纽约证券交易所股票代码：LUMN），该公司在被大量做空后，于 1 月份大幅上涨。摩根大通表示，这种挤压是“不可持续的”。摩根大通还担心农村互联互通补贴的流失。“由于 2022 年 CAF/RDOF（连接美国基金/农村数字机会基金）支持下降，我们很难对这个名字持积极态度，届时 Lumen 将在 2021 年至 2022 年期间失去几乎所有目前约 5 亿美元的 CAF 收入，约 100% EBITDA 流量。”</li><li>Lumen 仍在花钱建造其在 CAF-II 拍卖中获得的房屋，但摩根大通表示，资本支出应转移到业务的其他部分，而不仅仅是用于自由现金流产生。</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>J.P. Morgan's short-term look finds picks, pans in telecom/pay TV<blockquote>摩根大通的短期展望发现电信/付费电视的精选和平盘</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJ.P. Morgan's short-term look finds picks, pans in telecom/pay TV<blockquote>摩根大通的短期展望发现电信/付费电视的精选和平盘</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seeking alpha</strong><span class=\"h-time small\">2021-05-04 14:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul><li>J.P. Morgan's \"Spectrum of Opportunity\" note offers a chance to re-rank telecom and pay television stocks for May performance -updating its longer-term ratings with the prospect of benefiting from shorter-term catalysts (including such things as seasonality).</li><li>And turning to its top picks for May yields several names worthy of some catalyst-based attention (based on a points system it assigns to sort out how to weigh alternatives).</li><li>One is Comcast(NASDAQ:CMCSA), which is likely to keep seeing strong cable trends along with re-opening data points for its parks and film operations. It likes the stock long-term relative to megacap peers AT&T(NYSE:T)and Verizon(NYSE:VZ)\"due to strong fundamentals at cable and an improving backdrop at NBC/Sky.\" The broader market is concerned about growing broadband competition, but Comcast's trends are staying strong driven by acquisition and churn as it grows share.</li><li>Meanwhile, theme park demand is ramping, with open parks breaking even during the first quarter, and there's upside to NBC/consolidated EBITDA for 2021. It has a $62 price target.</li><li>On a slightly different time frame is T-Mobile (TMUS; reporting after the close tomorrow): It's the firm's best long-term idea (based on substantial operating efficiencies and cash flow growth for coming years), and while it's not looking for a big Q1 beat, it's still a short-term pick.</li><li>\"After a strong quarter by AT&T but soft one from Verizon on postpaid phone adds, we see upside to our postpaid phone add estimate of 400K with consensus at 450K,\" J.P. Morgan says. It's not expecting guidance increases, but there's \"ample opportunity for growth in fixed wireless, enterprise and rural markets, and the company highlighted $60B of buyback potential from 2023-2025 (we model ~$40B over that time frame due to spectrum purchases).\"</li><li>Another highly rated short-term pick is Charter Communications(NASDAQ:CHTR). Itsfirst-quarter report showed solid broadband and customer relationship growth, and despite competition fears in broadband, Charter is well positioned to keep growing penetration \"driven by its market-growth strategy and new home builds - both greenfield and fill-ins.\"</li><li>It's staying a top idea across J.P. Morgan's coverage on further broadband share gains, ongoing EBITDA growth (margin expansion), strong capital returns and ramping free cash flow generation.</li><li>Turning to its least favorite names on the spectrum, there's Cable One(NYSE:CABO), where multiples are already very high compared to public peers. Preliminary results showed EBITDA strength, unsurprising due to residential momentum, operating efficiency and synergy realization. But it's struggling with a valuation of 16.8x 2022 enterprise value/EBITDA and a 3.2% free cash flow yield, vs. pure-play peers like Charter and Altice USA (ATUS; EV/EBITDA multiples of 10.8x and 8.6x respectively).</li><li>Another least-favorite is Gogo(NASDAQ:GOGO)- where it's modeling an entire convertible issue converting to equity, diluting existing shareholders. Total revenues are set to improve after bottoming in Q2 2020, but it's still \"wary\" as it sees a 5G network buildout pushed out to 2022, allowing for a competitor to come in. That and the potential dilution are set to weigh on the shares for the \"foreseeable future.\"</li><li>And another name in disfavor is Lumen Technologies(NYSE:LUMN), which saw a heavy run-up in January after being heavily shorted. That squeeze is \"unsustainable,\" J.P. Morgan says. And it's wary about the loss of subsidies for rural connectivity. \"We struggle to become positive on the name due to falling CAF/RDOF (Connect America Fund/Rural Digital Opportunity Fund) support in 2022, where Lumen will lose nearly all of its current ~$500m CAF revenue from 2021 to 2022, at ~100% EBITDA flow-thru.\"</li><li>Lumen is still spending to enable the homes it got in the CAF-II auction, but J.P. Morgan says capital expenditures should be shifted to other parts of the business rather than just going to free cash flow generation.</li></ul></p><p><blockquote><ul><li>摩根大通的“机会谱”报告提供了一个根据 5 月份的表现重新排名电信和付费电视股票的机会——更新其长期评级，并有望受益于短期催化剂（包括季节性等因素）。</li><li>转向 5 月份的首选，会产生几个值得一些基于催化剂的关注的名字（基于它指定的评分系统，以整理如何权衡替代品）。</li><li>其中之一是康卡斯特（纳斯达克股票代码：CMCSA），该公司可能会继续看到强劲的有线电视趋势，同时为其公园和电影业务重新开放数据点。相对于大型同行 AT&T (NYSE:T) 和 Verizon (NYSE:VZ)，它长期看好该股，“因为有线电视的基本面强劲以及 NBC/Sky 的背景不断改善。”更广泛的市场担心宽带竞争日益激烈，但随着市场份额的增长，康卡斯特的趋势在收购和流失的推动下保持强劲。</li><li>与此同时，主题公园需求正在增加，开放公园在第一季度实现收支平衡，2021 年 NBC/综合 EBITDA 有上升空间。它的目标价为 62 美元。</li><li>T-Mobile（TMUS；明天收盘后报告）的时间框架略有不同：这是该公司最好的长期想法（基于未来几年可观的运营效率和现金流增长），虽然它并不是在寻找一个大的第一季度节拍，这仍然是一个短期选择。</li><li>摩根大通表示：“在 AT&T 季度表现强劲，但 Verizon 季度后付费电话充值表现疲软之后，我们看到后付费电话充值预期为 40 万部，市场普遍预期为 45 万部。”它预计不会增加指引，但“固定无线、企业和农村市场有充足的增长机会，该公司强调了 2023 年至 2025 年期间 60B 美元的回购潜力（我们预计该时间范围内约 40B 美元由于频谱购买）。”</li><li>另一个评价很高的短期选择是 Charter Communications（纳斯达克股票代码：CHTR）。其第一季度报告显示宽带和客户关系稳步增长，尽管宽带领域存在竞争担忧，但 Charter 仍处于有利地位，能够“在其市场增长战略和新房建设（包括绿地和填充）的推动下保持不断增长的渗透率”。</li><li>这仍然是摩根大通关于进一步宽带份额增长、持续的 EBITDA 增长（利润率扩张）、强劲的资本回报和不断增加的自由现金流产生的报道中的首要想法。</li><li>说到光谱中最不受欢迎的名字，有线电视一号（纽约证券交易所股票代码：CABO），与上市同行相比，其市盈率已经非常高。初步结果显示 EBITDA 强劲，由于住宅发展势头、运营效率和协同效应的实现，这并不奇怪。但与 Charter 和 Altice USA 等纯粹的同行相比，它的 2022 年企业价值/EBITDA 估值为 16.8 倍，自由现金流收益率为 3.2%，而 Charter 和 Altice USA（ATUS；EV/EBITDA 倍数分别为 10.8 倍和 8.6 倍）。</li><li>另一个最不受欢迎的是 Gogo（纳斯达克股票代码：GOGO），它正在模拟整个可转换发行转换为股权，稀释现有股东。总收入在 2020 年第二季度触底后将有所改善，但它仍然“谨慎”，因为它认为 5G 网络建设将推迟到 2022 年，从而允许竞争对手进入。这一点以及潜在的稀释将在“可预见的未来”给股价带来压力。</li><li>另一个不受欢迎的名字是 Lumen Technologies（纽约证券交易所股票代码：LUMN），该公司在被大量做空后，于 1 月份大幅上涨。摩根大通表示，这种挤压是“不可持续的”。摩根大通还担心农村互联互通补贴的流失。“由于 2022 年 CAF/RDOF（连接美国基金/农村数字机会基金）支持下降，我们很难对这个名字持积极态度，届时 Lumen 将在 2021 年至 2022 年期间失去几乎所有目前约 5 亿美元的 CAF 收入，约 100% EBITDA 流量。”</li><li>Lumen 仍在花钱建造其在 CAF-II 拍卖中获得的房屋，但摩根大通表示，资本支出应转移到业务的其他部分，而不仅仅是用于自由现金流产生。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3689866-jp-morgans-short-term-look-finds-picks-pans-in-telecompay-tv\">seeking alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3689866-jp-morgans-short-term-look-finds-picks-pans-in-telecompay-tv","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143573807","content_text":"J.P. Morgan's \"Spectrum of Opportunity\" note offers a chance to re-rank telecom and pay television stocks for May performance -updating its longer-term ratings with the prospect of benefiting from shorter-term catalysts (including such things as seasonality).And turning to its top picks for May yields several names worthy of some catalyst-based attention (based on a points system it assigns to sort out how to weigh alternatives).One is Comcast(NASDAQ:CMCSA), which is likely to keep seeing strong cable trends along with re-opening data points for its parks and film operations. It likes the stock long-term relative to megacap peers AT&T(NYSE:T)and Verizon(NYSE:VZ)\"due to strong fundamentals at cable and an improving backdrop at NBC/Sky.\" The broader market is concerned about growing broadband competition, but Comcast's trends are staying strong driven by acquisition and churn as it grows share.Meanwhile, theme park demand is ramping, with open parks breaking even during the first quarter, and there's upside to NBC/consolidated EBITDA for 2021. It has a $62 price target.On a slightly different time frame is T-Mobile (TMUS; reporting after the close tomorrow): It's the firm's best long-term idea (based on substantial operating efficiencies and cash flow growth for coming years), and while it's not looking for a big Q1 beat, it's still a short-term pick.\"After a strong quarter by AT&T but soft one from Verizon on postpaid phone adds, we see upside to our postpaid phone add estimate of 400K with consensus at 450K,\" J.P. Morgan says. It's not expecting guidance increases, but there's \"ample opportunity for growth in fixed wireless, enterprise and rural markets, and the company highlighted $60B of buyback potential from 2023-2025 (we model ~$40B over that time frame due to spectrum purchases).\"Another highly rated short-term pick is Charter Communications(NASDAQ:CHTR). Itsfirst-quarter report showed solid broadband and customer relationship growth, and despite competition fears in broadband, Charter is well positioned to keep growing penetration \"driven by its market-growth strategy and new home builds - both greenfield and fill-ins.\"It's staying a top idea across J.P. Morgan's coverage on further broadband share gains, ongoing EBITDA growth (margin expansion), strong capital returns and ramping free cash flow generation.Turning to its least favorite names on the spectrum, there's Cable One(NYSE:CABO), where multiples are already very high compared to public peers. Preliminary results showed EBITDA strength, unsurprising due to residential momentum, operating efficiency and synergy realization. But it's struggling with a valuation of 16.8x 2022 enterprise value/EBITDA and a 3.2% free cash flow yield, vs. pure-play peers like Charter and Altice USA (ATUS; EV/EBITDA multiples of 10.8x and 8.6x respectively).Another least-favorite is Gogo(NASDAQ:GOGO)- where it's modeling an entire convertible issue converting to equity, diluting existing shareholders. Total revenues are set to improve after bottoming in Q2 2020, but it's still \"wary\" as it sees a 5G network buildout pushed out to 2022, allowing for a competitor to come in. That and the potential dilution are set to weigh on the shares for the \"foreseeable future.\"And another name in disfavor is Lumen Technologies(NYSE:LUMN), which saw a heavy run-up in January after being heavily shorted. That squeeze is \"unsustainable,\" J.P. Morgan says. And it's wary about the loss of subsidies for rural connectivity. \"We struggle to become positive on the name due to falling CAF/RDOF (Connect America Fund/Rural Digital Opportunity Fund) support in 2022, where Lumen will lose nearly all of its current ~$500m CAF revenue from 2021 to 2022, at ~100% EBITDA flow-thru.\"Lumen is still spending to enable the homes it got in the CAF-II auction, but J.P. Morgan says capital expenditures should be shifted to other parts of the business rather than just going to free cash flow generation.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":586,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":17,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/106689613"}
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