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Fly News Breaks for August 21, 2019
Aug 21, 2019 | 07:08 EDT
Stephens analyst Kyle Evans said he would be an "aggressive buyer" of Gray Television shares at current levels, as he believes Gray has "some of the best TV station assets in the industry." He also believes recent M&A activity indicates Gray shares are undervalued, though he doesn't believe the Class B owners of the stock would be willing sellers. Evans keeps an Overweight rating and $27 price target on Gray Television shares, which he notes have been weak since even before the company missed its explicit retrans guidance in Q2.