UBS Maintains a 'Neutral' on New York Times (NYT); Improved Print Trends-Raising Price Target
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Price: $64.79 +1.03%
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 10 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Neutral' on New York Times (NYSE: NYT) price target raised $1 to $8.
UBS analyst says, "We expect 4Q results to exceed current revenue/EBITDA estimates and our checks indicate the recent strength in the print advertising market is continuing into early 1Q12. We are increasing our estimates for 4Q/1Q and our price target to $8; however, we maintain our Neutral rating as our outlook on the secular pressures in the business is unchanged."
"We now forecast 4Q11 print adv growth of -8.5% (prior -9.9%), total Publishing ad growth of - 4.8% (prior -6.3%) and our 4Q EPS est is now $0.41 (prior $0.39/consensus $0.41). We now forecast 1Q12 Publishing adv for New Co. (ex Regionals) growth of -4% (prior -5%), and EPS of $0.06 (prior $0.03, cons $0.05). We will further review 2012 ests when New Co financials are available (expected this wk)."
For an analyst ratings summary and ratings history on New York Times click here. For more ratings news on New York Times click here.
Shares of New York Times closed at $7.77 yesterday.
UBS analyst says, "We expect 4Q results to exceed current revenue/EBITDA estimates and our checks indicate the recent strength in the print advertising market is continuing into early 1Q12. We are increasing our estimates for 4Q/1Q and our price target to $8; however, we maintain our Neutral rating as our outlook on the secular pressures in the business is unchanged."
"We now forecast 4Q11 print adv growth of -8.5% (prior -9.9%), total Publishing ad growth of - 4.8% (prior -6.3%) and our 4Q EPS est is now $0.41 (prior $0.39/consensus $0.41). We now forecast 1Q12 Publishing adv for New Co. (ex Regionals) growth of -4% (prior -5%), and EPS of $0.06 (prior $0.03, cons $0.05). We will further review 2012 ests when New Co financials are available (expected this wk)."
For an analyst ratings summary and ratings history on New York Times click here. For more ratings news on New York Times click here.
Shares of New York Times closed at $7.77 yesterday.
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