Wunderlich Securities Provides Color on Scripps Networks, Buy

Wunderlich Securities provided color on Scripps Networks Interactive (NYSE: SNI). In a research report published today, Wunderlich stressed positive developments in the company's business.

In the report, Wunderlich states, "Buy-rated Scripps Networks Interactive (SNI) rallied 5.9% on Friday after a probate court filing in Ohio aimed at allowing trustees to diversity by selling SNI stock even prior to the trust dissolution... Estimate revisions are largely the result of treatment of Shopzilla as a discontinued operation with the closure of its $165mm sale to Symphony Technology Group. At last week's NCTA show, CFO Joe NeCastro reiterated that Scripps is intent on securing incremental compensation from MSOs for TV Everywhere."

At the moment, Wunderlich has a Buy rating and a price target of $60 placed on the company's stock. On Friday, Scripps added 5.88% to its value to finish the week at $47.14.