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Gray Media price target raised to $4.50 from $4 at Wells Fargo

Wells Fargo raised the firm’s price target on Gray Media (GTN) to $4.50 from $4 and keeps an Equal Weight rating on the shares. While the company arguably has less dereg opportunity near term, it also has the most potential to improve net retransmission, the firm says. Wells thinks reverse terms will reflect the FCC’s support of affiliates.

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