UPDATE: Jefferies Starts New York Times (NYT) at Hold
Get Alerts NYT Hot Sheet
Rating Summary:
5 Buy, 8 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Jefferies initiated coverage on New York Times (NYSE: NYT) with a Hold rating and a price target of $15.00.
Analyst John Janedis said, "We believe that the New York Times has and will continue to be the most successful newspaper publisher to move to a multi-platform news content distribution model. With recent hires implementing change and the early stages of announced strategic investment initiatives, the next 6-12 months will be a critical test for management’s growth plan. While too soon to call, given valuation of the stock, we think a successful outcome is currently priced into the stock at current levels. We currently assume EPS for 2014, 2015, and 2016 of $0.32, $0.42, and $0.46 vs. consensus of $0.42, $0.50, and $0.70, respectively. Our EPS CAGR from ’14-‘16E is 12% for the company."
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 $15.32 yesterday.
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