J.P. Morgan Maintains Neutral Rating On Belo

According to J.P. Morgan, Belo (NYSE: BLC) Neutral rating is maintained.

J.P. Morgan said that in Q2, revenues (+2%) were in-line while EBITDA (-13%) modestly topped estimates. “We're tweaking 2011-12 estimates. We think ad visibility has moderated in recent months amid macro jitters. Belo expects Auto to “stabilize” in late-Q3 and strengthen in Q4. H2,11.”

Belo closed yesterday at $5.53.