New York Times Co., Gannett Get Holiday Love From Wall Street
Stocks for The New York Times Co. (NYT) and Gannett Co. Inc. (GCI) rose this morning after a Wells Fargo analyst raised his ratings for the media companies’ stock.
In a holiday gift to the newspaper publishers, analyst John Janedis told investors that the stocks were hot because the ad market for papers seems to be “improving more quickly than we previously anticipated,” Reuters reported. This is great news for the Times Co. and Gannett, which publishes USA Today, but is it true?
The problem, says Reuters media reporter Robert MacMillan, is that publishers like the Times Co.
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