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MDP

Meredith

$38.62

3.18 (8.97%)

09:08
09/12/19
09/12
09:08
09/12/19
09:08

Meredith 'still a mess' although worst seems to be over, says Benchmark

Benchmark analyst Daniel Kurnos said the next 12-24 months will "still be messy" for Meredith following the company's "disastrous" FY20 EBITDA guidance, although he feels "relatively confident" that National EBITDA will bottom in FY20 unless there is a material change in the economy. He still sees a longer-tailed opportunity for National to re-rate higher and suspects that the Local segment will eventually be sold, even if that is no longer a near-term event, Kurnos tells investors. He keeps a Buy rating on Meredith shares but lowered his price target on the stock to $48 from $68.

  • 23

    Sep

  • 13

    Nov

MDP Meredith
$38.62

3.18 (8.97%)

02/15/19
02/15/19
INITIATION

Buy
Meredith resumed with a Buy at Gabelli
As previously reported, Gabelli analyst Brett Harriss resumed Meredith with a Buy rating following its Q2 earnings beat this week, speculating that the stock could rally on a potential "separation of the company's broadcast and publishing business could be a catalyst for shares." The analyst contends that each business appeals to different investors, who would then be able to evaluate their prospects more effectively. Harriss further states that a stand-alone broadcast business would be an attractive acquisition target for a larger TV station operator in the environment of consolidating industry.
05/02/19
SPHN
05/02/19
NO CHANGE
Target $65
SPHN
Equal Weight
Meredith rumor more about willingness to sell than imminent deal, says Stephens
After Reuters reported yesterday that Meredith was preparing to explore a sale of its broadcast TV stations, Stephens analyst Kyle Evans said he views the "rumor" as more of as an indication of a willingness to sell than as a "precursor to an imminent deal." Evans raised his price target on Meredith shares to $65 from $56 ahead of the company's Q3 earnings report, but keeps an Equal Weight rating on the stock, saying that his "ability to probability weight or time a potential deal is low."
05/28/19
GUGG
05/28/19
INITIATION
Target $60
GUGG
Neutral
Meredith initiated with a Neutral at Guggenheim
Guggenheim analyst Curry Baker initiated Meredith with a Neutral and $60 price target.
05/28/19
GUGG
05/28/19
INITIATION
Target $60
GUGG
Neutral
Guggenheim starts Meredith at Neutral, sees slow progress on turnaround
As previously reported, Guggenheim analyst Curry Baker initiated Meredith with a Neutral rating and $60 price target, stating that while "considerable progress" has been made on extracting synergies and turning around its acquired Time assets, the timeline for synergies and delevering has also been slipping. His FY20 EBITDA forecast of $803M is below the consensus view of $833M and "well below" the company's $1B goal, noted Baker.

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PING

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  • 19

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NTES

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