Wells Fargo upgraded Sinclair (SBGI) to Equal Weight from Underweight with a price target of $19, up from $13. The firm expects a Republican Federal Communications Commission to enact deregulation, including but not limited to broadcast mergers. It increased Sinclair’s target multiple on Local for this optionality while saying its Ventures unit is worth $16 per share.
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Read More on SBGI:
- Sinclair upgraded to Equal Weight from Underweight at Wells Fargo
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