Rosenblatt Maintains Neutral Rating for Sinclair: Here's What You Need To Know

Rosenblatt has decided to maintain its Neutral rating of Sinclair SBGI and lower its price target from $18.60 to $13.50.

Shares of Sinclair are trading down 2.83% over the last 24 hours, at $10.98 per share.

A move to $13.50 would account for a 22.95% increase from the current share price.

About Sinclair

Sinclair Inc 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.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

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