- Gannett's sports gambling partnership with Tipico should be transformative for the company.
- On the heels of this announcement, Gannett opportunistically refinanced its outstanding term loan, reducing interest expense by 200 basis points.
- Lastly, pending legislation in President Biden's budget reconciliation package could be a significant windfall for the company at year end if it passes.
- I am raising my 12-18-month price target from $12 to $25, which would award a median valuation for the communications services sector to Gannett's shares.
For further details see:
Gannett's Bet On Sports Gambling Has Great Odds