Lehman Brothers Upgrades Scripps Stock on Newspaper Split-Off

Posted Thursday, May 22, 2008 12:00 am

By: E&P Staff Lehman Brothers Thursday upgraded its evaluation of E.W. Scripps Co. stock on optimism about its cable network business that is being split from newspaper and broadcast.

Lehman analyst Craig Huber upgraded Scripps to "overweight" from "underweight."

He valued shares in Scripps Network Interactive, the new company to be created in July from its cable business, at $52.

But Huber put a price of just $5 on the newspaper and local broadcast company to be created from the split -- and recommended investors sell as soon as possible.

In early trading Thursday morning, Scripps (NYSE: SSP) shares were at $47.68, up 90 cents, or 1.92% from the opening.

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Lehman Brothers Upgrades Scripps Stock on Newspaper Split-Off

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