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Fly News Breaks for February 28, 2019
SBGI
Feb 28, 2019 | 08:04 EDT
Benchmark analyst Daniel Kurnos said Sinclair Broadcast Group reported "solid" Q4 results and offered a healthier outlook for 2019 than anticipated and he believes EBITDA and free cash flow estimates look set to rise. Management reiterated their interest in M&A in addition to ongoing share repurchases, said Kurnos, who sees the company's clean balance sheet leaving significant flexibility. He maintains a Buy rating on Sinclair shares and raised his price target on the stock to $45 from $39.
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