UPDATE: Sterne Agee Initiates Scripps Networks Interactive at Neutral on In-Line Forecast
In a report published Thursday, Sterne Agee analyst Vasily Karasyov initiated coverage on Scripps Networks Interactive (NYSE: SNI) with a Neutral rating and $71.00 price target.
In the report, Sterne Agee noted, “Our analysis shows that a constant P/E is the most reasonable assumption for SNI in the next 12 months at this point. Combined with our forecast, which is in-line with the Street, we see 8% upside to SNI stock price and therefore initiate with a Neutral rating. If Food Network ratings keep declining in the fourth quarter of 2013, a more compelling entry point may present itself.”
Scripps Networks Interactive closed on Thursday at $64.40.
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