Citi analyst Jason Bazinet maintained a Hold rating on Gannett today and set a price target of $5.10.
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Jason Bazinet has given his Hold rating due to a combination of factors related to Gannett’s financial outlook and recent performance. The company’s third-quarter results and guidance for the fourth quarter showed revenue and adjusted EBITDA figures below market expectations. Additionally, Gannett’s projections for digital and total revenue indicate only modest growth or slight declines in the near term, with a more stable revenue outlook anticipated by early 2026.
Despite these challenges, Bazinet raised the target price for Gannett’s stock from $4.30 to $5.10, factoring in a 50% probability of the company winning a $230 million award in its legal case against Google. This potential windfall could positively impact the stock’s valuation. However, the fundamental view of Gannett remains unchanged, leading to the decision to maintain a Hold rating as the expected share price return is minimal.
According to TipRanks, Bazinet is a 5-star analyst with an average return of 18.9% and a 65.08% success rate. Bazinet covers the Communication Services sector, focusing on stocks such as AppLovin, Spotify, and Clear Channel Outdoor.
In another report released on November 4, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $5.50 price target.