Sky TV shares may have hit a record low of $1.13 yesterday the pay-TV provider suspended its dividend, and revealed another fall in revenue and profit with its full-year result.

But the stock will rebound to close to $2 over the next 12 to 18 months, Fat Prophets research head Greg Smith predicts.

"Armageddon is already built-in to the price," he said.

So any good news now should see the stock rise. And he saw some stirrings at the pay-TV provider's full-year result as Sky made its first gain in subscriber numbers in three years as the rise in


More subs, less money per sub