Wedbush Upgrades Entravision Communications (EVC) Two-Notches to Outperform
Tweet Send to a FriendGet Alerts EVC Hot Sheet
Price: $4.86 +0.62%
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
3 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade EVC Now!
Wedbush upgraded Entravision Communications (NYSE: EVC) two-notches from Underperform to Outperform with a price target of $2.50 (from $1.40) citing growth and an undemanding valuation.
The firm comments, "The key to our call – on our new 2014 estimates, our higher PT reflects compelling reward/risk; our 2013E EPS goes above Street to $0.11 from $0.08 on debt repayment. New opportunities for 2013 are border markets, Affordable Care Act advertising, and radio network expansion – a competitor conference this week could be a catalyst for broader investor focus on these. EVC is staffing up to capture new spending from Mexican marketers targeting the border markets. Of the 47m uninsured in the U.S., ~30% are Latino, and EVC sees as an example of the ad opportunity, the $90m being budgeted in 2013 for messaging around the changes in California, where ~60% of uninsured are Latino. We estimate that EVC's radio network could generate up to $5m more in revenue in 2013 on its 2012 expansion to 313 affiliates targeting a ~$100m market."
For an analyst ratings summary and ratings history on Entravision Communications click here. For more ratings news on Entravision Communications click here.
Shares of Entravision Communications closed at $1.69 yesterday, with a 52 week range of $1.10-$1.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The firm comments, "The key to our call – on our new 2014 estimates, our higher PT reflects compelling reward/risk; our 2013E EPS goes above Street to $0.11 from $0.08 on debt repayment. New opportunities for 2013 are border markets, Affordable Care Act advertising, and radio network expansion – a competitor conference this week could be a catalyst for broader investor focus on these. EVC is staffing up to capture new spending from Mexican marketers targeting the border markets. Of the 47m uninsured in the U.S., ~30% are Latino, and EVC sees as an example of the ad opportunity, the $90m being budgeted in 2013 for messaging around the changes in California, where ~60% of uninsured are Latino. We estimate that EVC's radio network could generate up to $5m more in revenue in 2013 on its 2012 expansion to 313 affiliates targeting a ~$100m market."
For an analyst ratings summary and ratings history on Entravision Communications click here. For more ratings news on Entravision Communications click here.
Shares of Entravision Communications closed at $1.69 yesterday, with a 52 week range of $1.10-$1.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Leerink Swann Upgrades Bristol-Myers Squibb Co. (BMY) to Outperform
- Cisco (CSCO) PT Raised to $26.50 at Nomura
- Compass Point Boosts Numbers on RLJ Lodging Trust (RLJ)
Create E-mail Alert Related Categories
Analyst PT Change, Hot Upgrades, Upgrades
Login with Facebook
Sign 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!
