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Fly News Breaks for May 14, 2018
TRCO, SBGI
May 14, 2018 | 08:40 EDT
RBC Capital analyst Leo Kulp lowered his price target on Sinclair Broadcast (SBGI) to $38 after its Q1 earnings, saying that its results were similar to peers, but the core advertising trends remain challenging. The analyst also lowers his FY18 EBITDA forecast to $830M from $851M but keeps his Outperform rating, adding that the company generates significant cash flows, which is underappreciated by the market. Kulp further notes that Sinclair Broadcast can take advantage of the increased scale after its Tribune Media (TRCO) acquisition.
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