Citigroup raised its price target for The New York Times Company (NYSE: NYT) to $94.00. This represents an increase from the previous $77.00 target. The firm reiterated its buy rating on the stock. The new target implies a 12% upside from the previous closing price. Shares traded near a 52-week high following the announcement.
A federal judge ruled for the company and its reporter by blocking Pentagon rules that limited press access. Analysts updated valuation models to include new revenue growth and profit margin assumptions.