TV broadcast stocks are outperforming for the day after the sector was tapped by M.D. Sass to soar.
The investment firm notes there is a disconnect between the 10% of carriage fee revenue broadcasters haul in compared to the 35% of total viewing they account for across the industry. A normalization of the revenue mix is in the "early inning," according to Sass.
A timely initiation by Wells Fargo of Media General at Outperform is also giving a boost.