Sinclair Broadcasting (SBGI) PT Lowered to $17 at Guggenheim

Guggenheim analyst Curry Baker lowered the price target on Sinclair Broadcasting (NASDAQ: SBGI) to $17.00 (from $19.00) while maintaining a Buy rating.

The analyst comments "Key Message: We have updated our model to reflect SBGI's 4Q24 results and forward-looking commentary. Management guided 1Q25 revenue and EBITDA to $765mm–$779mm (we are at $773mm) and $90mm–$102mm (we are at $96mm), respectively. Our model reflects softer 1Q core advertising trends, little political being a non-election year, and the impact of SBGI's recent renewal cycle on retrans fees. We forecast $347mm of average annual FCF for the 2024/25 cycle, implying ~$5.16 per share (an ~35% FCF yield). PT to $17 (from $19 prior)."

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Old Dominion Freight Line (ODFL) PT Raised to $233 at TD Cowen
• Cosa Resources announces C$5 million bought deal private placement