Deutsche Bank Maintains Hold Rating for Sinclair Broadcast Group: Here's What You Need To Know

Deutsche Bank has decided to maintain its Hold rating of Sinclair Broadcast Group SBGI and raise its price target from $21.00 to $22.00.

Shares of Sinclair Broadcast Group are trading up 2.09% over the last 24 hours, at $20.98 per share.

A move to $22.00 would account for a 4.86% increase from the current share price.

About Sinclair Broadcast Group

Sinclair Broadcast Group is the second-largest television station operator in the U.S., with 185 stations in 85 markets. Of the firm's roughly 600 channels, over 150 are affiliated with the four national broadcasters—Fox, ABC, CBS, and NBC—with over 80 other channels on networks aligned with The CW (Nexstar) and MyNetworkTV (Fox). The firm also owns the Tennis Channel, and four multicast networks. Via the 2019 purchase of Fox Sports Networks from Disney, Sinclair is now the largest owner of Diamond Sports, which operates regional sports networks with 19 Ballys-branded RSNs covering 42 NBA, MLB, and NHL teams along with Marquee Sports Network, the home of the Chicago Cubs.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.