Corus Entertainment price target lowered to C$0.30 from C$0.50 at RBC Capital

RBC Capital lowered the firm’s price target on Corus Entertainment to C$0.30 from C$0.50 and keeps a Sector Perform rating on the shares, following Q3 results and Q4 guidance that were below the firm’s forecast. RBC believes the company’s struggles are “more than just a transition period,” and until Corus makes progress on channel rebranding, cost reductions, balance sheet/liquidity management and regulatory relief, the analyst expects “equity value to be under considerable pressure.”