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Downgrade Alert for Scripps Networks Interactive (SNI)

By David Diaz

Scripps Networks Interactive (NYSE:SNI) was downgraded from Neutral to Underperform at BofA/Merrill today. The stock closed yesterday at $63.74 on volume of 2.0 million shares, above average daily volume of 1.0 million.

Scripps Networks Interactive operates television and Internet businesses. The Company owns and operates lifestyle oriented cable television channels, Internet websites associated with the cable television channels, and Internet comparison shopping websites.

In the past 52 weeks, Scripps Networks Interactive share prices have been bracketed by a low of $47.62 and a high of $72.11 and closed yesterday at $63.74, 34% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Scripps Networks Interactive (NYSE:SNI) has potential upside of 3.8% based on a current price of $63.74 and analysts' consensus price target of $66.16. Scripps Networks Interactive shares should encounter resistance at the 50-day moving average (MA) of $63.88 and support at its 200-day MA of $58.04.

SmarTrend recommended that subscribers consider buying shares of Scripps Networks Interactive on September 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $63.36. Since that recommendation, shares of Scripps Networks Interactive have risen 4.0%. We continue to monitor SNI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Scripps Networks Interactive

Ticker(s): SNI