Market Overview

UPDATE: Deutsche Bank Downgrades Scripps Networks to Hold on Weaker Food Networks Viewership

Share:
Related SNI
Disney's 'Star Wars' Has Box Office On Track To Hit MKM's Q4 Estimates
Scripps Networks Launches On-Demand And Live Streaming Of Its Channels On Apple TV

Deutsche Bank downgraded Scripps Networks Interactive, Inc (NYSE: SNI) from Buy to Hold and lowers the price target from $76.00 to $65.00.

Deutsche Bank noted, "While SNI shares have already underperformed peers due to its ratings softness at Food, we see the potential for further challenges given: (1) viewership comps are even tougher in 1Q13 for Food; (2) the advertising impact from soft Food ratings should begin in 4Q12; (3) we are lowering our estimates below consensus; and (4) with slowing advertising growth and its affiliate renewal cycle now complete, suggesting mid-single digit revenue growth potential, and given potential programming cost growth pressures to fix Food and grow the Travel Channel, EBITDA growth should slow to mid-single digits, the middle of the peer group, while valuation remains at the higher end of the peer group."

Scripps Networks closed at $59.83 on Friday.

Latest Ratings for SNI

DateFirmActionFromTo
Feb 2016CitigroupMaintainsNeutral
Jan 2016MacquarieMaintainsNeutral
Dec 2015Morgan StanleyUpgradesUnderweightEqual-weight

View More Analyst Ratings for SNI
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (SNI)

Get Benzinga's Newsletters