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E.W. Scripps Q1 2020 Update - March 21, 2020

E.W. Scripps Q1 2020 Update - March 21, 2020

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We are maintaining our Buy rating on E.W. Scripps with a 12-month price target of $13.00, implying 59.2% upside.

Live sports are one of the last remaining points of attractiveness for television advertisers in an environment that’s increasingly seeing a mix-shift occur to over the top streaming options and with sports out of the equation for now, we believe this will weigh on core advertising for the next two quarters.

Read the rest in the note.