The Globe and Mail reports in its Wednesday, April 6, edition that Canaccord Genuity analyst Aravinda Galappatthige expects Corus Entertainment to take a "step back" from the "steady" improvement seen recently when it reports second quarter results on Friday. The Globe's David Leeder writes in the Eye On Equities column that Mr. Galappatthige says he is projecting revenue to be flat year-over-year and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to slide by 15 per cent. Mr. Galappatthige has reaffirmed his "buy" recommendation for Corus, while chopping his share target back by $1.50 to $7. Analysts on average target the Class B shares at $7.87. Mr. Galappatthige says in a note: "We suspect that the Omicron wave of COVID-19 likely moderated ad revenue growth during the quarter, and potentially content production (and delivery). This, coupled with sustained high programming cost inflation, is expected to drive down TV margins from 35 per cent last year to 30 per cent in Q2 this year." The Globe reported on Dec. 22 that Scotia Capital analyst Jeff Fan had reiterated his "sector outperform" recommendation for Corus when it could be had for $4.48.