Stephens Reiterates Overweight Rating on Sinclair Broadcasting (SBGI)

Stephens analyst Kyle Evans reiterated an Overweight rating and $80.00 price target on Sinclair Broadcasting (NASDAQ: SBGI) as the DISH blackout of FOX RSNs weighs on investors. SBGI posted decent 2Q19 results but the broadcast TV stocks had a rough earnings period, as the group traded down on concerns around the economy, retrans sub count trends and blackouts.

Evans believes sentiment on SBGI’s acquisition of the FOX RSNs has whipsawed the other way on the blackout with DISH, and while there are no guarantees of resolution, he recommends buying the broadcasters when fears are high and cash flow yields are in the 20% range.

For an analyst ratings summary and ratings history on Sinclair Broadcasting click here. For more ratings news on Sinclair Broadcasting click here.

Shares of Sinclair Broadcasting closed at $44.47 yesterday.

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