UPDATE: Deutsche Bank Raises PT on Discovery Communications on Growth Leader Position

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Discovery Communications DISCA, and raised the price target from $78.00 to $91.00. In the report, Poole noted, “Discovery remains, in our view, a growth leader as a networks pure-play that is one-third int'l, uniquely having low cost fully-owned programming leveraged globally, building new networks (OWN, ID, TLC Int'l), a Y/E'12-Y/E'15 U.S. affiliate renewal cycle, and healthy stock buybacks (‘13E 5% of shrs out). ‘13E PEG is 1.13x (22x vs 20%E LT growth), below Media's wghtd avg 1.25x and well below the S&P's 1.40x (14x vs. 10%E LT growth).” Discovery Communications closed on Friday at $78.56.