J.P. Morgan Reiterates Neutral on Gannett Company (GCI)

J.P. Morgan is out with its report today on Gannett Company GCI, maintaining Neutral. In a note to clients, J.P. Morgan writes, "We reiterate our Neutral rating on GCI. Despite upbeat commentary and a solid outlook at both the digital and broadcast segments and the prospect of share repurchases and/or a higher dividend in 2H, we believe ongoing pressure in the print business will continue to be the overriding theme at Gannett for some time. Significant uncertainty remains surrounding GCI's long-term growth profile (and the newspaper industry as a whole) which may limit multiple expansion from its current 5.0x." J.P. Morgan maintains a $17 PT on GCI. At the time of posting, shares of GCI were trading at $14.93, down 0.33% from Monday's close.