Nomura Securities Maintains a 'Neutral' on Scripps Networks (SNI); They Beat and We Raise

Nomura Securities maintains a 'Neutral' on Scripps Networks Interactive (NYSE: SNI) price target raised from $47 to $53.

Analyst, Michael Nathanson, said, "Scripps Networks posted 1Q EPS of $0.73, far exceeding what we and the Street had modeled and representing the biggest beat since 3Q10. We are raising 2012 EPS estimates from $3.18 to $3.40 and 2013 from $3.55 to $3.90 to incorporate stronger affiliate fee revenues, advertising forecasts and share repurchases. We believe the stock is trading at fair value."

For an analyst ratings summary and ratings history on Scripps Networks Interactive click here. For more ratings news on Scripps Networks Interactive click here.

Shares of Scripps Networks Interactive closed at $54.53 yesterday.

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