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Fly News Breaks for November 13, 2015
SNI
Nov 13, 2015 | 07:34 EDT
CLSA upgraded Scripps Networks to Outperform and raised its price target on shares to $66 from $60. Analyst Vasily Karasyov said strength in Q3 supports the FY16 outlook and the current valuation already reflects negative sentiment and concerns over difficult ratings comps overlook seasonality sensitivity. Karasyov expects upside to be driven by improving US advertising and affiliate revenue trends, de-leveraging, and lack of exposure to headwinds such as time-shifting viewing, audience measurement, and video bundle maturation, which impact peers more.
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