Discovery +2.2% as Evercore boosts target

|About: Discovery Inc A (DISCA)|By:, SA News Editor

Discovery (NASDAQ:DISCA) is up 2.2% and tapping three-year highs after a boost to its price target at Evercore ISI.

The firm raised its target to $38 from $32, implying 12.2% upside from today's higher price.

Ratings are improving and the company has "an attractive fundamental setup" going into the coming year and a half, analyst Vijay Jayant says. New distribution deals with Hulu and Sling TV means that the company's networks are now carried on all major virtual MVPD platforms outside of YouTube TV, Jayant notes. (h/t Bloomberg)

Shares have been on a run for months, up 46.6% over the past six.

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