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Belo Corp. Message Board

  • ATI_PFE ATI_PFE Jan 18, 2012 1:32 PM Flag

    More news re: upgrade

    12:58 (Dow Jones) While JPMorgan has "long-term concerns for Belo (BLC) and other local TV operators, we do see a few factors that could potentially fuel the stock near-term." As it upgrades the company to overweight and boosts its price target 25% to $10, the investment bank says increasing auto advertising, this year's elections and the potential for higher dividends and/or stock buybacks are among the things that could bolster BLC shares. They're up 16% the past month as the company recently amended its credit facility, extending it 44 months and lowering borrowing costs in the process. BLC gains 3% today to $7.41, hitting a 6-month high. (kevin.kingsbury@dowjones.com) Call us at (212) 416-2354 or email kevin.kingsbury@dowjones.com (END) Dow Jones NewswiresJanuary 18, 2012 12:58 ET (17:58 GMT)

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