UBS Maintains a 'Neutral' on Scripps Networks Interactive (SNI); Q1 More Resilient Than Expected

UBS maintains a 'Neutral' on Scripps Networks Interactive (NYSE: SNI) price target raised from $48 to $55.

Analyst, John Janedis, said, "Despite ratings declines at HGTV and The Travel Channel, strength at FOOD and four key shows allowed the networks segment to post 10% ad growth, well ahead of our 6% estimate, driving EBITDA to $239M vs. our $219M and EPS to $0.74 vs. our/ FC $0.60. Given the strength of SNI’s ad growth ahead of the ratings turn at both Travel/ FOOD and upside to affiliate fees, we are upping our 2012 EPS to $3.35 from $3.11." (FY13 raised from $3.56 to $3.70)

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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