Market Overview

UPDATE: Morgan Stanley Downgrades Scripps Networks Interactive to Underweight on Growth and Margin Headwinds

Share:
Related SNI
Aerospace, Tech Companies Hit The Road To Meet With Analysts
Next 10 Years Look Upbeat For U.S. Cable Industry
NBC maintains summer success with record 21-night ratings run (Seeking Alpha)

Morgan Stanley downgraded Scripps Networks Interactive (NYSE: SNI) from Equal-weight to Underweight and announced a $61.00 price target.

Morgan Stanley noted, "SNI's key networks, HGTV and Food, hold unique positions with advertisers, ad buyers, and audiences. It has used its content success to grow affiliate revs 60% since ‘09. Going forward, however, this rev stream will grow at or below the industry unless and until the Travel Channel can deliver on its potential. Key industry growth drivers – domestic affiliate renewals, int'l distribution gains, accelerating buybacks – are not likely factors for SNI in 2013. Moreover, we believe increasing fragmentation of audiences, time shifting, and competition in its key genres will drive continued double-digit program investment growth, leading to below industry avg organic EBITDA growth."

Scripps Networks Interactive closed at $60.44 on Thursday.

Latest Ratings for SNI

DateFirmActionFromTo
Aug 2016Evercore ISI GroupDowngradesBuyHold
Aug 2016JefferiesMaintainsHold
May 2016CitigroupDowngradesNeutralSell

View More Analyst Ratings for SNI
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (SNI)

View Comments and Join the Discussion!