 Shares of Sinclair Broadcast Group Inc. SBGI, -2.87 were down 3 in after-hours trading Wednesday after Wells Fargo analyst Steven Cahall double-downgraded the broadcast companys stock, lowering his rating to underweight from overweight and nearly halving his price target to 16 from a prior 30. The company faces multiple pressures that we think are greater than TV broadcast peers, he wrote in a late Wednesday note to clients. 