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Fly News Breaks for June 26, 2018
GTN
Jun 26, 2018 | 06:27 EDT
RBC Capital analyst Leo Kulp raised his price target on Gray Television to $19 and kept his Outperform rating, saying the company's acquisition of Raycom is "strategic and financially positive". Kulp notes that it increases Gray Television's scale while also adding 60% accretion to its free cash flow. The analyst contends that the stock presents a "compelling opportunity" given its free cash flow yield and the recently completed equity raise.
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