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In a report published Wednesday, Nomura analyst Anthony DiClemente initiated coverage on
Scripps Networks InteractiveSNI with a Neutral rating, establishing a $85.00 price target.
According to the report, SNI benefits from a well-managed collection of lifestyle genre brands – TV brands which clearly have fundamental strategic value.
“However, we see modest risk of a 2014 deceleration in both advertising growth and affiliate fee growth for the Lifestyle segment,” the report noted. “As such, investors may find a better entry point ahead of 2016-17 affiliate renewals, but we believe SNI shares are already appropriately valued.”
SNI closed Tuesday at $76.20.
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