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Fly News Breaks for August 19, 2015
EROS
Aug 19, 2015 | 07:16 EDT
After Eros reported higher than expected EBITDA but lower than expected revenue, Wells Fargo says the company's results were "mixed." However, the firm says that the revenue miss "sounds like more of a timing issue" relating to TV syndication. The firm raised its price target range on the stock largely because it began incorporating ErosNow into its model. Wells expects ErosNow to provide "a nice ramp" from fiscal 2017 through fiscal 2020. Wells keeps an Outperform rating on the shares.
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