Citi Downgrades Gannett (GCI) to Sell

April 5, 2020 4:33 PM EDT
Get Alerts GCI Hot Sheet
Price: $5.71 +3.63%

Rating Summary:
    5 Buy, 6 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 42
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Citi analyst Jason Bazinet downgraded Gannett (NYSE: GCI) from Buy to Sell with a price target of $0.50 (from $5.00).

The analyst comments "Given the material risk of EBITDA contraction, limited ability to generate FCF and challenges to meaningfully reduce leverage without resorting to additional asset sales, we are downgrading Gannett to Sell."

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 $0.97 yesterday.

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