The Globe and Mail reports in its Tuesday edition that Scotia Capital analyst Maher Yaghi has lowered his recommendation for Corus Entertainment to "sector underperform" from "sector perform." The Globe's David Leeder writes that Mr. Yaghi slashed his share target by 53 cents to 37 cents. Analysts on average target the Class B shares at 63 cents. Corus is losing five trademark channels from Warner Bros. Discovery. Mr. Yaghi says in a note: "While Corus will work on backfilling the programming for those channels with other content, the loss of the trademark will likely push many subscribers currently on those channels to turn to other broadcasters/streamers who will end up landing those rights. Assuming that Corus could lose 50 per cent of the subs and advertising revenues, we believe the company's valuation would be materially affected. ... It is important to point out that the loss of trademarks and content coming from Warner Bros. does not mean that all revenues will be lost. Corus will look to secure additional content from other producers in order to beef up the content on these channels, however, the trademark of the channels themselves will go to which ever company secures the rights to those trademarks."