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Sinclair Broadcast Group Q3 2019 Earnings Note

Sinclair Broadcast Group Q3 2019 Earnings Note

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We are maintaining our Buy rating on Sinclair Broadcast Group with a 12-month price target of $78.50, implied upside of 99.8%.

Sinclair reiterated its belief for the biggest political year on record in 2020, and we point out that revenue is significantly more stable going forward given that 70% of revenue comes from distribution, positioning Sinclair to benefit from the growing value of live sports.

Read the rest in the note.