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DISCA

Discovery

$26.80

0.41 (1.55%)

, SNI

Scripps Networks

$86.91

0.5 (0.58%)

08:33
07/31/17
07/31
08:33
07/31/17
08:33

Discovery backs FY17 adjusted EPS growth view of low to mid teen percentage

Discovery (DISCA) CEO David Zaslav said on the company's earnings and Scripps (SNI) deal recap call that Discovery is "still very comfortable" with its prior guidance for FY17 constant currency adjusted EPS growth in a low to mid-teen percentage and low double-digit free cash flow growth for 2017. Discovery now expects full year international organic distribution growth of approximately 10%, citing its strategic decision to exploit its Bundesliga soccer rights through the Eurosport Player in Germany for the season instead of with a traditional distribution deal. "We're confident these rights will help significantly accelerate growth for our Eurosport Player platform. We also expect to elevate the Eurosport brand to a new level in Germany, a key market for us. We also continue to see other opportunities to monetize the Bundesliga rights," Zaslav added in discussing the decision.

DISCA

Discovery

$26.80

0.41 (1.55%)

SNI

Scripps Networks

$86.91

0.5 (0.58%)

  • 31

    Jul

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    Jul

  • 09

    Aug

DISCA Discovery
$26.80

0.41 (1.55%)

07/20/17
WELS
07/20/17
INITIATION
WELS
Market Perform
Scripps Networks initiated with a Market Perform at Wells Fargo
Wells Fargo started coverage of Scripps with an $82 price target and a Market Perform rating. The firm says the company has a number of strengths, including "very low affiliate fees, extremely high engagement, an educated female audience," better ratings than peers and continued ad revenue growth of around 5%. However, the firm says it doesn't necessarily believe that Discovery (DISCA) is "the right partner" for Scripps, and "it's tough to get overly excited" about Scripps at the current stock price.
07/20/17
07/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Citi. 2. Johnson & Johnson (JNJ) reinstated with an Outperform at Credit Suisse. 3. Tile Shop (TTS) initiated with a Hold at Loop Capital. 4. Spring Bank Pharmaceuticals (SBPH) initiated with an Overweight at Cantor. 5. Discovery (DISCA) and Scripps Networks (SNI) were initiated with a Market Perform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/25/17
NEED
07/25/17
NO CHANGE
NEED
Hold
Needham likes Scripps Networks best as Discovery merger partner
Needham analyst Laura Martin believes Discovery (DISCA) will decide to protect its U.S. asset value rather than exit, and likes Scripps Networks (SNI) best as a merger partner for the company. The analyst reiterates a Hold rating on Discovery's shares.
07/26/17
WELS
07/26/17
NO CHANGE
WELS
Scripps Networks could be acquired for $91-$95 per share, says Wells Fargo
After the Wall Street Journal reported that Discovery (DISCA) and Viacom (VIAB) are interested in buying Scripps' (SNI) assets, Wells Fargo estimates that Scripps could be acquired for $91-$95 per share. The firm believes that the acquirer or acquirers could realize a total of about $175M of non-programming expense synergies. It keeps a Market Perform rating on Scripps.
SNI Scripps Networks
$86.91

0.5 (0.58%)

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CPCAY

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SPWH

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CTRL

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, AMRI

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CI

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CEMI

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CRMT

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CQP

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FALC

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16:36
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General news
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