New Media +5% as Citi boosts to Buy on Gannett talks [Seeking Alpha]
NEW MEDIA INVESTMENT GROUP (NEWM)
Last new media investment group earnings: 10/26 06:50 am
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US:NYSE Investor Relations:
newmediainv.com
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Source: Seeking Alpha
New Media Investment Group (NYSE: NEWM ) is premarket alongside an upgrade to Buy at Citi. The recent mover for the stock is news that the company's GateHouse Media is in advanced talks to combine with Gannett (NYSE: GCI ) in a major newspaper merger. There's a "very high" chance of success for that deal, which would come 50/50 in cash/stock, says analyst Jason Bazinet. He's raised his price target to $14 from $10, implying 43% upside. While sell-side analysts rate NEWM a Buy , it has a Quant Rating of Very Bearish . See all stocks on the move » Now read: New York Times Company: Buy The Paper, Sell The Stock » Subscribe for full text news in your inbox
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