Gannett Has 'Several Catalysts For Digital Growth And Margin Expansion,' Says Bullish Analyst
Portfolio Pulse from Priya Nigam
Gannett Co Inc (NYSE:GCI) shares rose 2.60% on Monday following a bullish analyst report from JMP Securities. Analyst Matthew Condon initiated coverage with a Market Outperform rating and a $6 price target, citing several catalysts for digital revenue growth and margin expansion. Gannett's transition to digital media, new content strategy, and optimization of subscription pricing are expected to drive growth. The company aims for digital to comprise 50% of total revenue by 2025 and anticipates a 40% CAGR in free cash flows from 2023 to 2026.
July 01, 2024 | 3:52 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Gannett Co Inc (NYSE:GCI) shares rose 2.60% following a bullish report from JMP Securities. Analyst Matthew Condon initiated coverage with a Market Outperform rating and a $6 price target, citing digital growth and margin expansion. Gannett's transition to digital media and new initiatives are expected to drive significant growth.
The bullish analyst report from JMP Securities, highlighting several catalysts for digital growth and margin expansion, has positively impacted Gannett's stock price. The transition to digital media, new content strategy, and optimization of subscription pricing are expected to drive growth, making the stock more attractive to investors.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100