UBS: New York Times No Longer a Sell
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.
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