01:33:04 EDT Sun 17 Oct 2021
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Wildbrain Ltd
Symbol WILD
Shares Issued 171,075,382
Close 2020-09-24 C$ 1.31
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Globe says Wildbrain seen to have "turned the corner"

2020-09-25 08:30 ET - In the News

The Globe and Mail reports in its Friday, Sept. 25, edition that RBC Dominion Securities analyst Drew McReynolds says Wildbrain's fourth quarter results brought "a turning point on visibility." The Globe's David Leeder writes in the Eye On Equities column that Mr. McReynolds removed the "speculative risk" qualifier from his "sector perform" rating. He reiterated his $1.50 share target, which exceeds the $1.18 consensus. Mr. McReynolds says in a note: "We believe the company has turned the corner on a period plagued by execution challenges, a sooner-than-expected shift in content demand and a levered balance sheet following major content investment and M&A. We continue to have greater confidence in execution under the new management team and see the potential for upside in the shares in a successful turnaround and de-levering scenario. While we remain patient for more attractive and/or timely entry points balancing the lagged impacts of growth initiatives with ongoing COVID-19 headwinds and still high leverage, we are encouraged by the progress to-date." Elsewhere, CIBC World Markets analyst Robert Bek upgraded Wildbrain to "neutral" from "underperformer" with a $1.25 share target.

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