April 8, 2019 / 12:42 PM / 7 months ago

BUZZ-Corus Entertainment: Desjardins raises PT, but remains on sidelines

** Brokerages Desjardins and TD Securities raise PT on Canadian media company Corus Entertainment

** Desjardins raises PT to C$7.25 from C$6.75, has ‘hold’ rating; TD Securities raises PT to C$11 from C$10 after co beats Q2 estimates, reiterates ‘action list buy’ rating

** Co’s TV business powers Q2 profit and revenue beat

** Desjardins says while TV advertising trends are encouraging, visibility is sufficiently limited to give us pause

** Although stock’s valuation remains attractive, without better visibility beyond a quarter or two prefers to remain on the sidelines - Desjardins

** TD Securities sees more positive catalysts including TV ad growth in Q3/Q4

** Sees a potential sale of the whole company at a premium as a means for Shaw Communications to monetize its stake; Shaw owns about 38 percent of Corus

** The average rating by 10 analysts covering the Corus stock is ‘buy’ and the mean price target is C$7.97

** Stock up 43.9 pct YTD (Reporting By Arundhati Sarkar in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below