Needham & Company Maintains a 'Buy' on Scripps Networks (SNI); Investor Day Takeaways and 3Q11 Earnings Preview
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Price: $90.04 --0%
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 19 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Scripps Networks Interactive (NYSE: SNI) price target of $62.00.
Needham analyst says, "Yesterday we attended the SNI investor day, held in the Food Network studios in NYC. Meeting highlights included: No change in guidance. We retain our quarterly estimates and target price. Upside should be driven by Travel Channel which today is 12% of revenue and management hopes to triple this over the next 5-7 years. Travel Channel is a jewel because it targets a new demo audience for SNI (men around 40) vs Food and HGTV (women 40-55). Also, it has an natural advertising base (just like Food and HGTV) but it's base is larger because it generates advertiser demand on a global scale (resulting in higher demand for advertising over time). We also like the fact that Travel is adopting the most successful programming formats from Food and HGTV networks. HGTV is revamping its show line-ups owing to home construction slowdowns linked to the economy."
For more ratings news on Scripps Networks Interactive click here and for the rating history of Scripps Networks Interactive click here.
Shares of Scripps Networks Interactive closed at $39.04 yesterday.
Needham analyst says, "Yesterday we attended the SNI investor day, held in the Food Network studios in NYC. Meeting highlights included: No change in guidance. We retain our quarterly estimates and target price. Upside should be driven by Travel Channel which today is 12% of revenue and management hopes to triple this over the next 5-7 years. Travel Channel is a jewel because it targets a new demo audience for SNI (men around 40) vs Food and HGTV (women 40-55). Also, it has an natural advertising base (just like Food and HGTV) but it's base is larger because it generates advertiser demand on a global scale (resulting in higher demand for advertising over time). We also like the fact that Travel is adopting the most successful programming formats from Food and HGTV networks. HGTV is revamping its show line-ups owing to home construction slowdowns linked to the economy."
For more ratings news on Scripps Networks Interactive click here and for the rating history of Scripps Networks Interactive click here.
Shares of Scripps Networks Interactive closed at $39.04 yesterday.
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