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Fly News Breaks for April 19, 2018
DISCA
Apr 19, 2018 | 07:35 EDT
At $23 per share, Discovery fetches just seven times enterprise value-to-EBITDA and six times free cash flow, Citi analyst Jason Bazinet tells investors in a research note. The analyst sees three ways to make money from current share levels. He explains: One, the valuation holds and the company de-levers, sending the stock to $27; Two, the multiple expands, sending the stock to $29; And three, there is a pivot to a free cash flow multiple, which means a $40 share price. Bazinet keeps a Buy rating on Discovery with a $29 price target.
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