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

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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.

Latest Ratings for DISCA

DateFirmActionFromTo
Aug 2016MacquarieUpgradesUnderperformNeutral
Jul 2016UBSDowngradesNeutralSell
Jun 2016BernsteinDowngradesMarket PerformOutperform

View More Analyst Ratings for DISCA
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