UBS analyst Jon Janedis has good news for those who have a stake in The New York Times: He’s upgraded the stock from a Sell to Neutral, and raised the price target from $7 to $9. Janedis also estimates that the paywall is doing better than previously thought; he guesses that the paper has about 350,000 subscribers, up from the forecasted 250,000.
There’s more: The UBS analyst says that print ad revenue won’t decline as much as he thought either. He once saw a six percent decline, but now thinks it will be only about four percent.
Like we said, that’s good news, but not great news. And while we don’t expect that many of you come to us for investing tips, we feel like we should say that it’s probably still not the best idea to buy a bunch of Times stock. But things are looking up, so keep the faith.