Barclays Raises PT and Estimates on New York Times (NYT); Transforming for the Digital Age
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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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Barclays maintains an 'Equalweight' on New York Times (NYSE: NYT) price target of $9.00 (from $8.00).
Analyst, Kannan Venkateshwar, said, "The transformation in NYT's business model continued last quarter with total paid digital subscribers of ~532,000, ~68% of their total daily print subscribers. At the current pace, NYT could achieve some important milestones over the next year and a half, in our opinion: 1) NYT will likely have more digital subscribers than print subscribers; 2) most likely see a positive consolidated top-line growth rate in 2012 for the first time in many years..."
FY12 EPS estimate raised from $0.69 to $0.70 and FY13 from $0.69 to $0.76.
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 $7.81 yesterday.
Analyst, Kannan Venkateshwar, said, "The transformation in NYT's business model continued last quarter with total paid digital subscribers of ~532,000, ~68% of their total daily print subscribers. At the current pace, NYT could achieve some important milestones over the next year and a half, in our opinion: 1) NYT will likely have more digital subscribers than print subscribers; 2) most likely see a positive consolidated top-line growth rate in 2012 for the first time in many years..."
FY12 EPS estimate raised from $0.69 to $0.70 and FY13 from $0.69 to $0.76.
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 $7.81 yesterday.
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