Gray Media price target raised to $5 from $4.50 at Wells Fargo

Wells Fargo raised the firm’s price target on Gray Media (GTN) to $5 from $4.50 and keeps an Equal Weight rating on the shares. The firm says Gray Media had a lot to announce at Q2 results. The mix of transactions and trends is constructive, though leverage remains high. From here, Wells thinks the focus will be integration and ops, vs. more deals.