UPDATE: Jefferies Starts Scripps Networks Interactive (SNI) at Hold
Get Alerts SNI Hot Sheet
Rating Summary:
3 Buy, 19 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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Jefferies initiated coverage on Scripps Networks Interactive (NYSE: SNI) with a Hold rating and a price target of $77.00.
Analyst John Janedis said, "Given the loyalty of its endemic advertisers and attractive demographic, Scripps Networks continues to generate advertising growth at the top end of the peer group, despite ratings weakness at its key Food Network. However, we still expect the company to invest a significant amount in programming this year and beyond, both in the U.S. and abroad, which will take time to translate to revenue upside and margin expansion. With less exposure to faster growing international markets, a relatively modest SVOD opportunity, and a smaller buyback program relative to peers (although larger than in its past), we think SNI’s shares are fairly valued. We currently assume EPS for 2014, 2015, and 2016 of $3.80, $4.32, and $4.75 vs. consensus of $3.99, $4.54, and $5.16, respectively. Our EPS CAGR from ’14-‘16E is 10% for the company."
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 $80.38 yesterday.
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