- Citi analyst Jason Bazinet downgraded Meredith Corp (NYSE:MDP) to Neutral from Buy with a price target of $59, up from $54, implying priced at the current level.
- The analyst sees limited upside from current share levels after IAC/InterActiveCorp (NASDAQ:IAC) agreed to acquire Meredith’s National Media Group in an all-cash transaction valuing the company at approximately $2.7 billion.
- Bazinet raised his price target for Meredith to reflect the expected proceeds of the NMG sale.
- Related Content: Meredith Shares Pop As IAC’s Dotdash Acquires National Media Group
- Price Action: MDP shares traded higher by 0.26% at $58.23 in the market session on the last check Friday.
Broadridge Financial: Q4 Earnings Insights
Shares of Broadridge Financial Soln (NYSE:BR) were unchanged after the company reported Q4 results.
Quarterly Results
Earnings per share were up 1.86% year over year to $2.19, which were in line with the estimate of $2.19.
