New York Times upgraded to Buy at Guggenheim on digital growth, valuation

Guggenheim upgraded The New York Times Company (NYT) to Buy from Neutral, raising its price target to $82 from $70. The firm cites attractive valuation and confidence in sustained digital advertising and subscription growth through 2027. Analysts project low-double digit ad growth and ~10% digital subscription growth next year, supported by higher ARPU and strong demand across properties. Operating expenses are expected to normalize, with the 2027 adjusted operating profit forecast raised to $714 million.