A familiar name picks up coverage of Gannett

July 12, 2010

For those following Gannett Co.  second quarter earnings on Friday, a familiar name might be popping in on the line. Douglas Arthur — the sharp analyst late of Morgan Stanley known for such hits as “Knight Ridder: A Scenario Analysis”– is back covering the sector again.  Or something akin to it.

Arthur initiated coverage of Gannett for Evercore Partners last week,  stamping Gannett with an “overweight” rating and a price target of $18. It’s likely his report sent shares in the newspaper and broadcasting company soaring about 6% to$14.16 on July 7 close.

Newspaper companies used to be covered by a boatload of analysts until around 2008 when they started dropping like flies.  Maybe if a few more come back into the fold we’ll be looking at an upward trend.

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