Argus Upgrades Gannett (GCI) to Buy

Argus upgraded Gannett (NYSE: GCI) from Hold to Buy with a price target of $20.00.

While the company continues to face challenges from the secular decline of print newspapers, it has a clean balance sheet, a share buyback program, and a hefty dividend yield of about 3.9%, the analyst highlighted. Management is focused on controlling costs and is pursuing a growth-by-acquisition strategy, they also note.

For an analyst ratings summary and ratings history on Gannett click here. For more ratings news on Gannett click here.

Shares of Gannett closed at $16.09 yesterday.

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