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E.W. Scripps Q3 2019 Earnings Note

E.W. Scripps Q3 2019 Earnings Note

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We are maintaining our Buy rating on E.W. Scripps with a 12-month price target of $18 per share, implying 23.1% upside.

With a significantly bolstered station portfolio, a 2020 step-up in retransmission rates from Comcast (CMCSA – Not Rated), and an expanded political footprint that likely will result in record 2020 political revenue, there’s a lot of upside to like for Local Media.

Read the rest in the note.