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Fly News Breaks for February 12, 2019
MDP
Feb 12, 2019 | 07:51 EDT
Benchmark analyst Daniel Kurnos said Meredith reported "extremely messy numbers" and mixed Q2 results, but the two most important takeaways for him from the company's report were that National Media Group advertising improved to a down mid-single digit pace and the FY20 EBITDA goal of $1B could take up to an additional 12 months to achieve, "to no one's surprise." While he believes the "numerical messiness could continue to keep shares from breaking out," expectations remain very muted for Meredith, said Kurnos, who keeps a Buy rating on the stock.
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