Analyst Upbeat About Newspaper Stocks
Editor & Publisher, Sunday, January 17, 2010 11:13 PM
Newspaper stocks have seen a rebound from their perilous state a year ago. Which mens the sector now ranks among the market's best performers, the chief analyst for Zacks Investment Research Inc. says in his latest report.
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Zacks Chief Equity Strategist Dirk Van Dijk says newspapers now rank seventh-best among 206 industries tracked by the Chicago-based firm. Two stocks -- Gannett Co. Inc. (NYSE: GCI) and The New York Times Co. (NYSE: NYT) -- are now given No. 1 ratings in its stock evaluation system. Newspaper stocks across the board are trading at or near 52-week highs, and some have rebounded spectacularly since hitting all-time low prices in the winter of 2009. Gannett's share price, for instance, is up 103% from a year ago.
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