UBS on Gannett (GCI): Adding Short-Term Buy Rating on Return of Capital & Early ’12 Print Trends
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Price: $2.58 -4.09%
Rating Summary:
6 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
6 Buy, 5 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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UBS maintains a 'Neutral' on Gannett (NYSE: GCI), price target raised from $10 to $15.
UBS analyst said, "We are adding a Short Term Buy rating to GCI on our belief that: 1) print trends are modestly ahead of our expectations in early 1Q after a decent finish to 4Q, and 2) more shareholder friendly actions at GCI’s Analyst day will translate to further multiple expansion. Long term, we maintain our Neutral rating on the stock on secular concerns, but are increasing our long term price target to $15, from $10."
"Our 4Q TV ad growth est is now -17% (prior -18%) and total TV rev growth is now -13% (vs. - 14%); our total co EBITDA is now $349.3M (prior $345M; cons. $348M). Also adjusting for lower non-controlling interest, our 4Q11 EPS est is now $0.71 (FC: $0.69)...We are also tweaking our expense estimates and our total co. EBITDA is now $240.5M (prior $232M; cons. $237M), and 1Q12 EPS est is now $0.40 (prior $0.37, cons $0.37)."
For an analyst ratings summary and ratings history on Gannett click here. For more ratings news on Gannett click here.
Shares of Gannett closed at $14.33 yesterday.
UBS analyst said, "We are adding a Short Term Buy rating to GCI on our belief that: 1) print trends are modestly ahead of our expectations in early 1Q after a decent finish to 4Q, and 2) more shareholder friendly actions at GCI’s Analyst day will translate to further multiple expansion. Long term, we maintain our Neutral rating on the stock on secular concerns, but are increasing our long term price target to $15, from $10."
"Our 4Q TV ad growth est is now -17% (prior -18%) and total TV rev growth is now -13% (vs. - 14%); our total co EBITDA is now $349.3M (prior $345M; cons. $348M). Also adjusting for lower non-controlling interest, our 4Q11 EPS est is now $0.71 (FC: $0.69)...We are also tweaking our expense estimates and our total co. EBITDA is now $240.5M (prior $232M; cons. $237M), and 1Q12 EPS est is now $0.40 (prior $0.37, cons $0.37)."
For an analyst ratings summary and ratings history on Gannett click here. For more ratings news on Gannett click here.
Shares of Gannett closed at $14.33 yesterday.
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