Market Overview

UPDATE: Benchmark Raises PT to $13 on EW Scripps Following Q3 Beat

Share:
Related SSP
Zacks Industry Outlook Highlights: McClatchy, New York Times, New Media Investment Group, Gannett and E.W. Scripps
Earnings Scheduled For May 5, 2017

Benchmark reiterated its Buy rating on EW Scripps (NYSE: SSP) and raised its price target from $11 to $13.

Benchmark noted, "Scripps trades at 4x 2013E EBITDA, at a discount to publishing peers. We believe a premium is warranted given the increased importance of broadcasting. Based on 5x our 2013E EBITDA, we arrive at a target price of $13 per share. With one of the strongest balance sheets in the sector, Scripps repurchased 700,000 of its shares in 3Q and authorized a share repurchase of up to $100 million."

EW Scripps closed at $10.46 on Monday.

Latest Ratings for SSP

DateFirmActionFromTo
Feb 2016Wells FargoDowngradesOutperformMarket Perform
Nov 2015Stephens & Co.Initiates Coverage onEqual-Weight
Aug 2015JefferiesMaintainsHold

View More Analyst Ratings for SSP
View the Latest Analyst Ratings

Posted-In: BenchmarkAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (SSP)

View Comments and Join the Discussion!