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Fly News Breaks for September 7, 2018
MDP
Sep 7, 2018 | 08:29 EDT
Benchmark analyst Daniel Kurnos attributes yesterday's weakness in shares of Meredith to two factors: the fact that the company offered no incremental news on its pending asset sales and "incorrect language" in reports of its previously provided guidance compared against "a stale, inaccurate consensus." His talks point to robust demand for the planned divestitures and the company's FY19 EBITDA guidance remained unchanged at $720M-$750M, Kurnos said. The analyst, who sees yesterday's price action as "completely unwarranted," would be a buyer on the weakness and keeps a Buy rating on Meredith shares.
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