Barrington upgrades Gray Media on improved leverage position

Barrington upgraded Gray Media (GTN) to Outperform from Market Perform with a $6.50 price target post the Q2 report. The company’s acquisitions this year amid a more favorable regulatory environment are expected to yield an improved leverage position, the analyst tells investors in a research note. The firm views Gray as a “high-quality” TV broadcaster with dominance in its local markets and “excellent” cost controls.