Gray Television price target lowered to $15 from $25 at Barrington

Barrington analyst James Goss lowered the firm’s price target on Gray Television to $15 from $25 and keeps an Outperform rating on the shares. His former target was "much higher" but his new 2023-based target of $15 reflects lowered political forecasts, the company issuing retrans guidance for a steeper erosion in sub levels than they’d previously experienced, and a more conservative target multiple, Goss tells investors.