Bloomberg "Anywhere" Remote Login Bloomberg "Terminal" Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Bear Stearns Hikes New York Times Co. Rating


Bear Stearns upgraded its investment rating on New York Times Co. (NYT) to buy from attractive.

Analyst Kevin Gruneich says the company has been among his top three diversified newspaper picks. He now believes it has more upside than any stock in the sub-sector. Gruneich notes that in the past month, the company been trimming its staff an unprecedented 8%-9%, along with taking numerous other meaningful cost-control measures. Gruneich says this should provide what is already one of the most cyclical newspaper groups a heightened bounce when a recovery occurs. He also notes that the company's advertising comparisons ease much more dramatically than its peers, proving more upside estimate pressure. Gruneich sees EPS of $2.10 in 2001 and $2.40 in 2002. He has a $53-$54 price target.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus