Citi Maintains Hold on Discovery Communications (DISCA)

Citi is out with its report today on Discovery Communications (NASDAQ: DISCA), maintaining Hold and a $45 PT.

In a note to clients, Citi writes, "Discovery reported revenue of $1.015 billion, up 7% versus last year, and up 7% growth on recast numbers. This was 1% below Street estimates. Domestic networks saw 9% growth, and international networks grew 4%. We maintain our Hold rating and price target of $45 which we achieve by applying a 17x multiple to our 2012 EPS estimate of $2.87, ascribing $2 M&A risk, and rounding to $45."

Shares of DISCA traded after hours at $43.33, down 0.97% from Friday's close.