Gilford Securities Reiterates Buy Rating on Entravision Communications (EVC)
Gilford Securities is out with a research report this afternoon, where it reiterates its Buy rating on Entravision Communications (NYSE: EVC); it has a $3.5 price target on the stock.
The GS analysts said that the biggest gainer in broadcast was Univision. EVC is Univision's largest external affiliate group.
They added, “For the year Univision programming averaged among 18-49 year-olds 3.7 million total viewers. On an otherwise quiet Monday last week, the finale of one of its telenovelas averaged four million viewers in that demographic, beating all the English-language networks for the night.”
As for valuation, the analysts remarked, “EVC is at 8.2x '11E EBITDA or a
20% discount to 10.2% L-T EBITDA growth. If ad rebound continues and clients react to Hispanic surge in Census & ratings; upside.”
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