Citizens JMP Reiterates Market Outperform Rating on Gannett (GCI)

Citizens JMP analyst Matthew Condon reiterated a Market Outperform rating and $6.00 price target on Gannett (NYSE: GCI).

The analyst commented, “The company faced headwinds across multiple digital revenue lines, including softer trends in Newsquest and DMS segments, and increased revenue reversals impacting digital other and digital-only subscription businesses. However, trends improved throughout 1Q25, with March being the best month of the quarter and momentum continuing into April, as Gannett reiterated its 2025 outlook for both top and bottom lines. Despite ongoing macro uncertainty, we see multiple catalysts for growth, including digital-only subscription pricing, new DMS product launches, and AI licensing deals, while we expect Gannett to remain intently focused on cost optimizations. Additionally, while Gannett is nearing the end of its real estate and non-strategic asset sale pipeline, the recent sale of the Austin American- Statesman highlights the appetite for its assets, as we expect opportunistic sales to contribute to debt paydowns over time. Given these catalysts and shares trading at just 5.4x 2026E EBITDA, we reiterate our Market Outperform rating and $6 price target.”

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 $3.09 yesterday.

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