Tribune Media Company (NYSE:TRCO) Stock Upgrade
The rating of Tribune Media Company (NYSE:TRCO) shares have been raised by investment analysts at Gabelli from their previous “Hold” rating to a solid “Buy” via an analyst research report revealed to clients on Monday, 14 December. Gabelli after the upgrade has a $64.00 target price shares and their target price would now indicate a possible upside of 84.17%.
From a total of 7 analysts covering Tribune Media (NYSE:TRCO) stock, 3 rate it a ”Buy”, 0 a “Sell”, and 4 a ”Hold”. This means that 43% of the ratings are positive. The highest target price is $70 while the lowest target price is $40. The mean of all analyst targets is $49.57 with a 32.39% above today’s ($34.18) stock price. Tribune Media was the topic of 5 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Stephens initiated shares on November 18 with “Equal-Weight” rating. Morgan Stanley initiated TRCO stock in a recent report from August 19 with “Equal Weight” rating.
Approximately 414,467 shares of stock traded hands. Tribune Media Co (NYSE:TRCO) has declined 37.77% since May 11, 2015 and is downtrending. It has underperformed by 33.36% the S&P500.
Tribune Media Company is a diversified media and entertainment business. The company has a market cap of $3.04 billion. The Firm consists of 42 television stations to which it provides certain services, along with a national general entertainment television network, a radio station, a production studio, a digital and data technology business, a portfolio of real estate assets and investments in a variety of media, Websites and other related assets. It has 9.13 P/E ratio.
According to Zacks Investment Research, “Tribune Media Company is engaged in broadcast distribution, digital properties and data businesses. The company provides Antenna TV, THIS TV, radio station, music and video content and technologies. It also owns and manages real estate properties. Tribune Media Company, formerly known as Tribune Company, is based in Chicago, Illinois.”