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Discovery (DISCA) Stock Declines on Barclays Downgrade

NEW YORK (TheStreet) -- Discovery Communications (DISCA - Get Report) stock is falling by 2.25% to $28.21 in mid-morning trading on Friday, after a rating downgrade to "equal weight" from "overweight" at Barclays.

The firm also lowered its price target to $30 from $34 on the media company.

Discovery held its investor day on September 29, where management laid out a more conservative guidance that suggest "a longer time horizon for operating leverage to kick in than what we anticipated," Barclays said in an analyst note.

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One factor for the conservative guidance is that Eurosport is expected to have lower margins than before it was acquired by Discovery.

The company, however, is still expected to see future growth, with a more stable domestic business and merger and acquisition opportunities.

Separately, TheStreet Ratings...


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