Argus Upgrades Gannett (GCI) to Buy
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Rating Summary:
7 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 23 | Down: 26 | New: 23
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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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