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UPDATE: Compass Point Starts Coverage on New Media Investment

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In a report released Friday, Compass Point analyst Jason Stewart announces initiation of coverage on New Media Investment (NYSE: NEWM) with a Buy rating and price target of $18.

Stewart explains the initiation, "We view shares of NEWM as an opportunity to invest in a viable business strategy with a clean balance sheet at a price that appropriately reflects well known industry challenges. While technological advancement and the availability of free information has negatively impacted the U.S. newspaper industry, local content providers such as NEWM are still highly regarded in the markets they operate in."

NEWM provides a foot in the newspaper industry while valuing the progressive movement of digital media. The report also noted potential for cash dividends from free cash flow, possibly being the only dividend yielding public newspaper company.

NEWM closed previously at $14.55 and opened back up Friday at $14.76.

Latest Ratings for NEWM

DateFirmActionFromTo
Nov 2014Compass PointReiteratesBuy
Oct 2014Barrington ResearchInitiates Coverage onOutperform
Mar 2014Compass PointInitiates Coverage onBuy

View More Analyst Ratings for NEWM
View the Latest Analyst Ratings

Posted-In: Compass PointPrice Target Initiation Analyst Ratings Trading Ideas

 

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