UPDATE: Deutsche Bank Raises PT on Meredith Corporation Awaiting Better Entry Point

In a report published Monday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on

, and raised the price target from $42.00 to $43.00. In the report, Deutsche Bank noted, “Maintain Hold rating. We maintain our Hold but raise our TP from $42 to $43 based on our updated sum-of-the-parts analysis (base case and TV M&A scenario SOTP). While we like Meredith's stable National consumer brands, retrans opportunity, and capital return (3.5% div yid + 2% buyback yld), we think an opportunistic TV scenario is required to justify the current price not to mention any upside, thus we remain on the sidelines and await a better entry point.” Meredith Corporation closed on Friday at $47.70.