UPDATE: Deutsche Bank Reiterates Hold Rating, Raises PT on Meredith Corporation on Optimistic Outlook

In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Meredith Corporation MDP, and raised the price target from $37.00 to $41.00. In the report, Deutsche Bank noted, “We maintain our Hold but raise our target from $37 to $41 based on improving National Media trends and our belief that Meredith participates in the current wave of broadcast TV consolidation. While we like the company's stable National consumer brands, retrans opportunity, and capital return (4% div yid + 2% buyback yld), we think the market is already discounting an opportunistic TV scenario, thus we remain on the sidelines and await a better entry point.” Meredith Corporation closed on Monday at $44.96.