J.P. Morgan Reiterates OW Rating on McGraw-Hill

J.P. Morgan is reiterating its Overweight rating on McGraw-Hill MHP shares. “On Tuesday, the company announced 1) it has hired an adviser to pursue the divestiture of its Broadcasting Group, 2) a broader review of its portfolio, and 3) a companywide evaluation of G&A costs,” J.P. Morgan writes. “The TV station unit (~2% of total MHP EBITDA) has exhibited a nice rebound over the past 2 years, and we think it could attract interest from strategic and financial bidders.” McGraw-Hill closed Tuesday at $41.79.