Pivotal Research Upgrades Discovery Communications (DISCA) to Buy

Pivotal Research upgraded Discovery Communications (NASDAQ: DISCA) from Hold to Buy with a price target of $34. Analyst Brian Wieser thinks its post-earnings selloff is too severe.

"Only-OK 2Q15 results, enhanced fx effects, an elimination of buyback plans for the year against a backdrop of heightened secular fears around the TV industry led to an extreme sell-off in Discovery stock yesterday. Our positive view (and contrarian views on the pace of change) around the industry remains unchanged. With a price target of $34 but with the stock now 18%," said Wieser.

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 $28.87 yesterday.

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