Benchmark analyst Daniel Kurnos doubled his price target on Sinclair Broadcast (SBGI) shares to $90 from $45 after the company's "massively accretive, transformative acquisition" of 21 Fox regional sports networks from Disney (DIS). While some questions are still unanswered, Kurnos sees several reasons that Sinclair can keep moving significantly higher, including significant cash flow optionality through the RSNs, the fact that he thinks consensus for legacy Sinclair looks conservative through 2020 and his view that shares remain inexpensive. He keeps a Buy rating on Sinclair shares, which closed yesterday with an advance of 35% to $60.48.