Guggenheim Sticks to Their Buy Rating for Sinclair Broadcast (SBGI)
In a report released yesterday, Curry Baker from Guggenheim maintained a Buy rating on Sinclair Broadcast, with a price target of $20.00. The company’s shares closed yesterday at $16.66.
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According to TipRanks, Baker is a 4-star analyst with an average return of 10.9% and a 56.97% success rate. Baker covers the Communication Services sector, focusing on stocks such as Gray Television, Sphere Entertainment, and News Corp.
Currently, the analyst consensus on Sinclair Broadcast is a Hold with an average price target of $19.20, representing a 15.25% upside. In a report released on November 6, Benchmark Co. also maintained a Buy rating on the stock with a $27.00 price target.
Based on Sinclair Broadcast’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $773 million and a GAAP net loss of $1 million. In comparison, last year the company earned a revenue of $917 million and had a net profit of $94 million
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