Gannett (GCI) Upgraded to Outperform

Gannett (GCI) is expected to benefit from positive trends witnessed in both print and digital advertising, with advertisers spending gaining pace. The company now expects television advertising revenue to climb 20% or more and digital revenue to rise in the mid-single digit percentage range in second-quarter 2010.

Although publishing revenue is expected to decline in the low-to-mid single-digit percentage range, it reflects a sharp improvement from the past two quarters. Gannett is also transmuting its business model by adding diverse revenue streams to make it less susceptible to economic conditions.

Consequently, we believe that these factors may result in the company delivering earnings above the current Zacks Consensus Estimate. Therefore we upgrade the stock to Outperform.

GANNETT INC (GCI): Free Stock Analysis Report
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