In a report released today, Barton Crockett from B.Riley FBR maintained a Hold rating on Discovery Inc (DISCA), with a price target of $28. The company’s shares opened today at $24.37.
Crockett noted:
“We update our Discovery (DISCA – Neutral, $28 PT) estimates for a refined view of current operating trends and recent reports. Our 2019E adjusted OIBDA is increased 3%, to $4,615M, to a level that is still 1% below FactSet consensus. The OIBDA hike takes our PT up, from $24 to $28, as we maintain a constant EV/OIBDA multiple assumption in the belief that Discovery, over the course of the year ahead, can move up to an EV/OIBDA multiple, versus 2019E near 8x, that would be consistent with the current multiple, versus 2018E.”
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 2.5% and a 49.5% success rate. Crockett covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Qurate Retail Group Inc, and Nexstar Media Group Inc.
Discovery Inc has an analyst consensus of Moderate Buy, with a price target consensus of $35.85.
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The company has a one-year high of $34.89 and a one-year low of $20.60. Currently, Discovery Inc has an average volume of 4.6M.
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Discovery, Inc. is a media company, which engages in the provision of content across distribution platforms and digital distribution arrangements. It operates through the following segments: U.S. Networks, International Networks, and Education and Other.
