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Wall Street Sees 'Trump Bump' For The New York Times

Investing.com - The New York Times Company management team may want to send a thank you note to President Trump.JPMorgan Chase (NYSE:JPM) has upgraded the media company and also raised its stock-price target, citing what it calls a "Trump bump" to the circulation of its flagship newspaper.In a note to clients, the Wall Street firm said a "strong news cycle", driven by President Trump, has boosted subscriptions.JPMorgan raised its rating from neutral to overweight and its 12-month price forecast from $25 to $27 a share.The firm said the Times' digital sales grew 46% year over year, matching those of Facebook (NASDAQ:FB)'s, which "surpassed initial expectations for subscriber growth."Times shares are up some 60% in the past 12-months, more than double the gain of the S&P 500.