Outdoor Channel Holdings initiated with "buy" - update

08/22/05 - A.G. Edwards & Sons

NEW YORK, August 22 (newratings.com) - Analysts at AG Edwards initiate coverage of Outdoor Channel Holdings Inc (OUTD) with a "buy" rating. The price objective is set to $17.

In a research note published on August 19, the analysts mention that the company plans to invest the proceeds from its recent secondary offering in programming to expand the distribution of its outdoor and high definition channels. Outdoor Channel has become profitable on account of its impressive cost control measures and low-cost programming, the analysts say. The current valuation of the company's stock is attractive, AG Edwards adds.