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Fly News Breaks for October 9, 2019
NYT
Oct 9, 2019 | 06:28 EDT
Guggenheim analyst Curry Baker initiated New York Times with a Neutral rating and a price target of $27.50. The analyst notes that while the company has successfully transformed its business model into a digital, subscription-first enterprise over the past five years, it looks to be falling short on its target of reaching 10M subscribers by 2025. Baker is forecasting about 9.4M subscribers by that year, adding that New York Times stock is currently trading at a "rich premium" to its peer set and other media companies.
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