Analyst Price Target Update on Discovery Communications (NASDAQ:DISCA)

Discovery Communications (NASDAQ:DISCA) shares are expected to touch $29.79 in the short term. This short term price target has been shared by 14 analysts. However, the standard deviation of short term price estimate has been valued at 3.95. The target price could hit $35 on the higher end and $23 on the lower end.

Many analysts have stated their opinion on the company shares. In a research note released to the investors, Bernstein downgrades its rating on Discovery Communications (NASDAQ:DISCA).The analysts at the brokerage house have a current rating of Outperform on the shares. Earlier, the shares were rated a Market Perform by the brokerage firm. In a recent information released to the investors, Bernstein lowers the new price target from $29 per share to $23 per share. The rating by the firm was issued on June 6, 2016. Company shares have received an average consensus rating of Hold for the current week

On the companys insider trading activities, The director 10% owner, of Discovery Communications, Inc., Malone John C had unloaded 183,637 shares at $28.04 per share in a transaction on May 10, 2016. The total value of transaction was $5,149,181. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Discovery Communications (NASDAQ:DISCA) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.18 points or 0.69% at $25.97 with 1,976,853 shares getting traded. Post opening the session at $26.15, the shares hit an intraday low of $25.97 and an intraday high of $26.51 and the price was in this range throughout the day. The company has a market cap of $10,537 million and the number of outstanding shares have been calculated to be 405,719,950 shares. The 52-week high of Discovery Communications (NASDAQ:DISCA) is $34.94 and the 52-week low is $23.74.

Discovery Communications, Inc. (Discovery) is a media company. The Company provides content across multiple distribution platforms, including pay-TV, free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Discovery operates in three segments: U.S. Networks, consisting of domestic television networks and Websites; International Networks, consisting of international television networks and Websites, and Education and Other. The Companys U.S. Networks segment consists of national television networks. The U.S. Networks segment owns and operates 10 national television networks. The Companys International Networks segment consists of national and pan-regional television networks. The Companys Education and Other segment consists of curriculum-based product and service offerings, and production studios. The Companys subsidiaries include Discovery Holding Company (DHC) and Discovery Communications Holding, LLC (DCH).

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