TD Securities Reiterates Their Buy Rating on Corus Entertnmnt B

By Carrie Williams

Corus Entertnmnt B (TSX: CJR.B), the Services sector company, has received a rating update from a Wall Street analyst yesterday. TD Securities’ analyst Vince Valentini reiterates their Buy rating on the shares, with a C$16 price target.

Valentini noted:

“We expect an improvement in TV advertising revenue from -4% in Q2/17 to essentially flat in Q3/17.”

According to TipRanks.com, Valentini is a 3-star analyst with an average return of 4.4% and a 93.3% success rate. Valentini covers the Technology sector, focusing on stocks such as Rogers Communication, BCE Inc, and Telus.

Corus Entertnmnt B has an analyst consensus of Moderate Buy, with a price target consensus of C$13.90.

Corus Entertnmnt B’s market cap is currently C$2.57B and has a P/E ratio of 13.1.

Corus Entertainment, Inc. is a media and entertainment company, which engages in the provision of radio broadcasting, specialty television, digital audio services, and cable advertising services. It operates through the Television and Radio segments. The Television segment comprises of specialty television networks, pay television services, conventional television stations, and the Corus content business, which consists of the production and distribution of films and television programs; merchandise licensing, publishing, and animation software. The Radio segment includes radio stations, situated in high-growth urban centers, with a concentration in the densely populated area. The company was founded by James Robert Shaw on March 3, 1998 and is headquartered in Toronto, Canada.

The company’s shares closed last Friday at $12.76.