Guggenheim raised the firm’s price target on Sinclair (SBGI) to $19 from $18 and keeps a Buy rating on the shares after having updated the firm’s model to reflect Q3 results and forward-looking commentary. The firm’s model reflects crowd-out and modest advertising headwinds in Q4, modest retrans growth for 2024, and strong political performance, the analyst noted.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SBGI:
- Sinclair congratulates Brendan Carr on appointment as Chairman of FCC
- Sinclair’s Diamond Sports announces multi-year agreement with Prime Video
- Wells Fargo upgrades Sinclair on better regulatory environment
- Sinclair upgraded to Equal Weight from Underweight at Wells Fargo
- Sinclair Reports Strong Q3 Financial Performance