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SBGI

Sinclair Broadcast

$58.75

1.36 (2.37%)

11:27
07/11/19
07/11
11:27
07/11/19
11:27

Retrans the likeliest driver of upside for Sinclair, says Benchmark

Benchmark analyst Daniel Kurnos reiterated a Buy rating and $90 price target on Sinclair Broadcast (SBGI) Group after the company provided preliminary second quarter Media revenue of $721M, at the midpoint of prior guidance, but ahead of the consensus. In a research note to investors, Kurnos says retrans seems the likeliest driver of the upside, including Tennis distribution revenue, though he says it is "possible" Sinclair may be the one significant core outlier. Kurnos also says Sinclair completed the RSN-Charter (CHTR) negotiations, adding that Dish (DISH) remains the biggest "wildcard" for the RSNs, but he is optimistic Sinclair will prevail.

  • 07

    Aug

  • 05

    Sep

SBGI Sinclair Broadcast
$58.75

1.36 (2.37%)

05/06/19
05/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Sinclair Broadcast (SBGI) upgraded to Buy from Neutral at B. Riley FBR with analyst Barton Crockett saying yhe company's deal to acquire 21 regional sports networks from Disney (DIS) at valuation of $10.6B "looks like a home-run". 2. ImmunoGen (IMGN) upgraded to Buy from Neutral at H.C. Wainwright with analyst Debjit Chattopadhyay seeing 40% downside risk to the stock if the FDA does not consider mirvetuximab to be a clinically meaningful addition to the armametum against ovarian cancer versus a 145% upside potential. 3. Dish (DISH) upgraded to Neutral from Underperform at Credit Suisse with analyst Douglas Mitchelson saying he finds that risk/reward and potential catalysts across wireless and Pay TV are now in balance. 4. Post Holdings (POST) upgraded to Buy from Neutral at Goldman Sachs with analyst Jason English stating he views the recent pullback as a buying opportunity as he thinks transient headwinds were the reason results missed investor expectations in Q2. 5. Dentsply Sirona (XRAY) upgraded to Outperform from Market Perform at Barrington with analyst Michael Petusky saying the company's turnaround is "now on a firm, provable footing". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/06/19
RILY
05/06/19
NO CHANGE
Target $70
RILY
Buy
Sinclair target raised for second time today at B. Riley, this time to $70
B. Riley FBR analyst Barton Crockett raised his price target for Sinclair Broadcast Group (SBGI) shares to $70 from $57 saying the company's acquisition of Disney's (DIS) regional sports networks is "much more" accretive than he first thought. The analyst this morning upgraded Sinclair to Buy from Neutral and raised his price target for the shares to $57 from $46. The stock in afternoon trading is up 32%, or $14.33, to $59.28.
05/07/19
EVER
05/07/19
UPGRADE
EVER
Outperform
Sinclair Broadcast upgraded to Outperform from In Line at Evercore ISI
05/07/19
BNCH
05/07/19
NO CHANGE
Target $90
BNCH
Buy
Sinclair Broadcast price target doubled to $90 at Benchmark after RSN 'homerun'
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.

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FSM

Fortuna Silver Mines

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  • 09

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FOXA

Fox Corp.

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