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Fly News Breaks for December 6, 2018
DISCA
Dec 6, 2018 | 10:17 EDT
As previously reported, Pivotal Research analyst Brian Wieser upgraded Discovery to Hold from Sell with the stock now trading close to his $27 price target and the company having revised its Q4 guidance. His talks with national TV buyers has him convinced that there may have been unrealistic expectations with respect to how much revenue the combined Scripps and Discovery might be able to realize, said Weiser, though he noted that Discovery Communications' CEO reduced expectations for Q4 advertising growth at an investor conference earlier this week citing ratings weakness at the flagship network.
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