In a report released today, Brian Wieser from Pivotal Research upgraded Discovery Comms (NASDAQ: DISCA) to Buy, with a price target of $28. The company’s shares closed on Friday at $20.95.
Wieser observed:
“We are updating our Discovery model, raising our target price to $28 on a YE2018 basis from $24 previously, and upgrading the stock from Hold to Buy. While there are many legitimate concerns about the company’s strategic position vs. its peers and around the industry in which it operates, at current trading levels upside potential is too significant to ignore. As well, as a still-relatively smaller player in a consolidating sector, we can imagine benefits to the stock from future M&A activity whether because Discovery is itself eventually bought at a premium or because it acquires other assets and realizes further synergies beyond those generated by the Scripps transaction. A review of our perspective on the company, underlying data and the stock follows in this note.”
According to TipRanks.com, Wieser is a 5-star analyst with an average return of 11.2% and a 73.6% success rate. Wieser covers the Services sector, focusing on stocks such as Interpublic Group of Companies, Nielsen Holdings, and 21st Century Fox.
Discovery Comms has an analyst consensus of Moderate Buy, with a price target consensus of $27.30.
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The company has a one-year high of $27.92 and a one-year low of $15.99. Currently, Discovery Comms has an average volume of 5.6M.
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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.
