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Analyst lifts Discovery on share pricing, Scripps deal

Bank of America Merrill Lynch analyst Jessica Reif Cohen upgraded Discovery Communications Inc. to "buy" from "neutral" over the pricing of the shares and potential benefits from the acquisition of Scripps Networks Interactive Inc., TheFly.com reported Dec. 21.

The analyst also increased the price target on the company's shares to $30 from $26.

Stockholders of Discovery Communications and Scripps have approved the proposed merger transaction.