The Globe and Mail reports in its Friday edition that Corus Entertainment shares retreated nearly 8 per cent on Thursday in the wake of Wednesday's earnings report. The Globe's Darcy Keith writes that Corus posted higher costs in its TV segment than many analysts had expected. Canaccord analyst Aravinda Galappatthige, however, describes top-line results as "solid," with a sharper-than-anticipated recovery at its radio assets. He notes that while adjusted earnings were down year over year, much of it was nonrecurring items. Mr. Galappatthige trimmed his share target by 75 cents to $5.25. Analysts on average target the Class B at $5.94. Mr. Galappatthige says in a note: "Given the Q3/22 miss was very much around TV operating expenses we are careful not to over-interpret the bottom-line result with respect to Corus's outlook. However, much depends on how costs would be managed going into F2023." Mr. Galappatthige has reaffirmed his "buy" recommendation for Corus. He adds, "While there may not be any near-term catalysts to call for a meaningful recovery in the stock price, we do believe that with an improving balance sheet position and a free cash flow yield of 33 per cent, the downside is limited."