Fly News Breaks for November 19, 2019
Nov 19, 2019 | 06:59 EDT
Stephens analyst Kyle Evans said Sinclair Broadcast Group's Q3 results and conference call did little to change the negative sentiment on its recent RSN acquisition, but he would point to other recent renewals with key multichannel video programming distributors, new guidance that takes Dish (DISH) out of estimates, and what he sees as a "cheap" valuation on a pro-forma basis. He keeps an Overweight rating on the stock and believes its pullback has been overdone at current levels, though Evans lowered his price target for Sinclair shares to $55 from $80.
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