02:20 PM EDT, 05/08/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target price to $50 from $47, 30.1x our 2024 EPS, a discount to NYT's five-year average forward P/E, reflecting top-line growth risks. We raise our 2024 EPS to $1.66 from $1.63 and keep 2025's at $1.84. NYT posted Q4 adj-EPS of $0.31, $0.11 above consensus. Revenue of $594M (+5.9 Y/Y) was in line with consensus. Adj-EBITDA rose 40.9% Y/Y to $76M vs. the $56M consensus, with margin widening to 12.8%. NYT had solid results driven by its bundle and multi-product subscriber growth (over 50% of all new digital subscribers). We note that NYT expects these subscribers to exceed 50% of its total subscriber base by the end of 2025, with a positive impact on its average revenue per user (ARPU) in 2H 2024. However, NYT also expects margin expansion and earnings growth will no longer be back-half weighted due to the strong start to the year. In our view, while signs of stronger subscriber engagement are encouraging, NYT's valuation still appears full due to its limited pricing and monetization levers.