Nomura Securities Bullish on U.S. Media
Tweet
Share
E-mailGet Alerts SNI Hot Sheet
Price: $42.92 +0.75%
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Join SI Premium – FREE
Nomura Securities Bullish on U.S. Media by Michael Nathanson
Nathanson said, "Post 2Q we are adjusting our estimates for Scripps Network (NYSE: SNI) and Discovery (Nasdaq: DISCA). We have modestly increased our revenue and EBIDTA growth assumptions at DISCA, as well as higher share repurchases, but assume higher taxes and interest expense. Our CY12 EPS goes to $2.32 from $2.35, and our price target goes to $42 from $43. At SNI, we flow through the 2Q beat and expect more challenging advertising comps and timing of expenses. We are increasing our 2011E EPS to $2.90 from $2.88. Our price target goes to $48 from $50 to reflect a lower market multiple and earnings revisions. We maintain a neutral rating on DISCA and SNI."
Nathanson said, "Post 2Q we are adjusting our estimates for Scripps Network (NYSE: SNI) and Discovery (Nasdaq: DISCA). We have modestly increased our revenue and EBIDTA growth assumptions at DISCA, as well as higher share repurchases, but assume higher taxes and interest expense. Our CY12 EPS goes to $2.32 from $2.35, and our price target goes to $42 from $43. At SNI, we flow through the 2Q beat and expect more challenging advertising comps and timing of expenses. We are increasing our 2011E EPS to $2.90 from $2.88. Our price target goes to $48 from $50 to reflect a lower market multiple and earnings revisions. We maintain a neutral rating on DISCA and SNI."
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Nomura, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
