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We Expect Tribune To Outperform Its Peers As We Exit This Recession - Thomas Weisel Comments
(RealTimeTraders.com) - Wednesday morning, Thomas Weisel maintains its Outperform rating on Tribune Co. (TRB) shares. Analyst Christa Sober said July's ad results reiterated this thesis, as Tribune's 3.3% newspaper ad revenue growth bested those in her newspaper universe.
The analyst expects Tribune to outperform its peers “as we exit this recession”, with its national ad exposure and fast-growing broadcasting properties. In addition, the analyst also noted that the management held a tight rein on costs while supporting specific revenue initiatives.
Concluding, Thomas Weisel said trading of Tribune shares on par with The New York Times Co. (NYT) reflects the company’s increasing national orientation at the papers and its 25% revenue exposure to TV-broadcasting.
On Tuesday, the stock closed at $47.09.
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