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Fly News Breaks for November 19, 2019
MDP
Nov 19, 2019 | 06:51 EDT
Stephens analyst Kyle Evans said Meredith reported "a messy" Q1 quarter and believes investors continue to struggle with the long-term view for "the combination of a subscale TV footprint and the largest national magazine publisher in the US." While the company has valuable print brands, execution risk from the Time acquisition remains high, according to Evans, who keeps an Equal Weight rating on Meredith shares and cut his price target for the stock to $40 from $65.
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