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Article: BROKERAGE BULLISH ON PUBLISHERS.
- Article from:
- NewsInc
- Article date:
- July 7, 2003
CopyrightCOPYRIGHT 2003 The Cole Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SG Cowen, the securities and investment banking company, last week initiated coverage on five newspaper and multimedia firms, noting that it believes that "fundamentals may fall short of expectations" and that it is therefore cautious on the outlook for the industry.
Nonetheless, analyst James Marsh -- an experienced media stock handicapper who has previously worked at such firms at Robertson Stephens and Prudential Securities -- said in his report that three of the companies he'll now track are in good positions.
The Cowen report cited The E.W. Scripps Co. as the "best positioned" in the group to grow quickly and gave it a "strong buy" rating. The ...