The Globe and Mail reports in its Tuesday, Oct. 25, edition that Canaccord Genuity analyst Aravinda Galappatthige has downgraded Corus Entertainment to "speculative buy" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Galappatthige cut his share target to $2.75 from $4.25. Analysts on average target the shares at $3.56. Mr. Galappatthige believes Corus's dividend is sustainable. However, he sees a "challenging" year ahead. Mr. Galappatthige posted his rating cut after Corus posted weaker-than-anticipated fourth quarter results, which knocked its Class B shares down 3.6 per cent. Mr. Galappatthige says in a note: "With the stock having sold off 58 per cent in calendar 2022 and now trading at a 50-per-cent FCF yield (and a 12-per-cent dividend yield), we believe we are at a crucial point in Corus's trajectory. We believe that even 'on par' with expectations returns from here on, can stabilize and potentially rebound the stock. However, the key is whether there is further downside to TV ad expectations, which in turn depends on the severity of the economic downturn and to a lesser extent the impact of Netflix's advent into the ad market."