- Sinclair Broadcast Group (NASDAQ:SBGI) is down 1.9% after Stephens heavily cut its price target, pointing to concerns around the company's deal for the Fox regional sports networks.
- The firm cut its target to $55 from $80, cutting implied upside to 46%, noting Sinclair's getting little or no credit for the acquisition (sentiment that played out through Sinclair's recent earnings report).
- Those networks went dark on Dish Network (NASDAQ:DISH) and Sling TV in July after what Dish called demands for unreasonable rates. And resolution of that standoff looks less likely with each passing week, analyst Kyle Evans says.
- He's staying bullish with an Overweight rating; other sell-siders are Bullish as well, while it has a Quant Rating of Bearish.