Comscore (SCOR) has confirmed the renewal of a long-term agreement with BBC World News for the continued use of Comscore’s industry-leading TV Essential (TVE) currency and advanced audiences.
The renewal will allow BBC World News to continue using Comscore’s “best-in-class television measurement as its currency”. The television measurement tool will allow the media outlet and its partners to understand its viewers better, and should also sharpen its competitive advantage while offering unmatched insight into its target audience.
“Comscore’s enhanced product has the reliability to give our clients an accurate view of the reach and success of BBC World News in a very competitive marketplace, where it continues to differentiate itself,” said AMC Networks SVP, Michael Graf. (See Comscore stock analysis on TipRanks)
The renewal of the long-term agreement comes on the back of Comscore carving a niche for itself as a reliable source for television viewing data. The company boasts more than 10 years of experience in measuring television viewership on various devices. Its solutions have allowed media outlets to go beyond age and gender to transact on consumer behaviors, interests, and lifestyle.
In the aftermath of Comscore reporting a 5% year-over-year decline in 4Q 2020 revenues, Needham analyst Laura Martin reiterated a Buy rating on the stock. According to the analyst, the company is well-positioned to return to growth in 2021, going by its 3% to 5% revenue growth guidance.
“At current price levels, the risk/reward ratio makes us buyers of SCOR because: a) our sum of the parts analysis indicates that SCOR is undervalued today; b) the US TV ecosystem had $60B of TV advertising revenue in 2020, and all parties we talk to want a 3rd party independent measurement alternative to Nielsen,” wrote Martin in a research note to investors.
Consensus among Wall Street analysts is a Moderate Buy based on 1 Buy rating. The analyst price target of $6 implies 57.89% upside potential to current levels.
SCOR scores an 8 out of 10 on TipRanks’ Smart Score rating tool, implying it is likely to outperform market expectations.
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