Compass Point starts ‘underappreciated’ Gannett with a Buy

As previously reported, Compass Point initiated coverage of Gannett with a Buy rating and $5 price target. Gannett’s free cash flow potential is “underappreciated” and organic deleveraging should drive significant value creation to shareholders, the analyst tells investors. Gannett recently added four partnerships and plans to add more with content creators to leverage the company’s 189M average monthly unique visitors, which the firm estimates could exceed $100M over the next couple of years as Gannett continues to execute a transition into a digital-first media company, the analyst added.