Cowen Reiterates Market Perform on Discovery Communications (DISCA) Following Investor Day

Cowen reiterated a Market Perform rating and $27.00 price target on Discovery Communications (NASDAQ: DISCA, DISCK) following the company's investor day. Management sketched out Discovery's international opportunity, likening pay TV growth and global advertising opportunities to U.S. opportunities in the 1990s, suggesting that future growth should remain robust.

Analyst Doug Creutz commented, "We came away from yesterday's Discovery investor day with some questions answered but others raised. Discovery's target of +LDD constant currency adjusted EPS CAGR from 2015-2018 came in below street consensus of a ~18% CAGR. We are maintaining our Market Perform rating and PT of $27 as our FCF outlook is fairly unchanged (roughly in-line with management's LT guidance)."

For an analyst ratings summary and ratings history on Discovery Communications click here. For more ratings news on Discovery Communications click here.

Shares of Discovery Communications closed at $26.40 yesterday.

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