'New York Times' Parent Stock Spikes as Analyst Turns More Optimistic

Shares of The New York Times Co. (NYSE: NYT) rebounded strongly Monday as a formerly pesimistic Wall Street analyst, who has a “sell” recommendation on the stock,  said in a note that advertising at its newspapers is running 4% ahead of last year so far in October.

UBS analyst John Janedis initiated coverage of The New York Times Co. (NYT) for UBS  on Sept. 21 with the sell recommendation and some trenchant commentary about the long-term prospects of Times Co. -- and the rest of the newspaper industry.

But Monday Times company spiked as much as 9% on the far more optimistic note from  Janedis. Read details about the performance of Times Co. stock and other newspaper sector stocks at E&P’s business-oriented blog, Fitz & Co. Give You The Business.