Is BSkyB a buy?

Mark Kelly Special situations strategist, Olivetree Securities   When looking at the standalone fundamentals of BSkyB shares, they are now "cheap" to some degree, and investors with a longer-term horizon could well start to think about picking them up around the 700p level. Given the recent excellent operational performance, and associated upgrades the market has assigned to the company since the original News Corporation bid, fair value for the shares stands somewhere between 725p and 750p. However, investors should still be aware of the potential for volatility and flow back f...