NEW YORK (Reuters) - Broadcasting company Gray Television Inc (GTN.N) is well placed to profit from an anticipated deluge of political advertising ahead of U.S. elections in 2020, according to Barron’s.
The U.S. financial newspaper said good ratings in its local TV markets would be attractive to congressional, senatorial, gubernatorial and presidential campaigns looking to place adverts.
“For investors, that potential pickup in revenue and a discounted stock price make for a winning ticket,” Barron’s wrote.
Shares in Gray Television are up around 15% so far in 2019 but are down 25% in the last three months, giving the company a market capitalization of $1.7 billion.
A representative for Gray Television did not immediately respond to a request for comment on the Barron’s report.
Reporting by Joshua Franklin in New York; Editing by Lisa Shumaker