Market Overview

UPDATE: Pivotal Research Group Raises PT to $57 on Discovery Communications on European Expansion

Related DISCA
Earnings Scheduled For July 31, 2014
Stocks To Watch For July 31, 2014
Binge Watching, Sports at Center of Fox Bid for Time Warner (Fox Business)

Pivotal Research Group reiterated its Hold rating on Discovery Communications (NASDAQ: DISCA) but raised its price target from $55 to $57.

Pivotal Research Group commented, "Discovery Communications announced transactions to expand into Nordic markets and France. … The properties include free-to-air TV businesses in Norway, Sweden, Denmark and Finland. Assets also include a strong radio network business. Margins on the assets are in the low-20s. On our initial take on the transaction, we assume expansion given what we expect will be content and other synergies with the rest of Discovery's operations) with a revenue mix that is heavily skewed towards advertising."

Discovery Communications closed at $60.26 on Friday.

Posted-In: Pivotal Research GroupAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (DISCA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters