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Fly News Breaks for May 30, 2018
MDP
May 30, 2018 | 06:23 EDT
Citi analyst Jason Bazinet upgraded Meredith to Buy and raised his price target for the shares to $59 from $58. The analyst attributes the weakness in the shares over the past six months to the company's elevated debt levels and deteriorating print ad trends. Bazinet, however, sees a favorable risk/reward with Meredith "substantially reducing leverage." He believes the Street pivoting to a price-to-earnings valuation metric could be "quite bullish" for the shares.
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