Markets & Finance

Citigroup Upgrades Dow Jones to 'In-Line'

Citigroup upgraded Dow Jones (DJ) to in-line from underperform.

Analyst William Bird says a recent Wall Street Journal page count suggested a dramatic ramp-up in advertising page growth. He estimates that ad pages rose 200% year over year on Wednesday, 155% on Tuesday, and 79% on Monday. Wall Street Journal ad pages were up 23% so far in September, after a decline of 10% in August.

Bird says though three days doesn't necessarily make a trend, the uptick is striking, and he also hears more multi-page commitments are coming. He thinks Wall Street Journal will likely benefit from Hewlett-Packard's pre-Thanksgiving ad campaign. Though Dow Jones' valuation is high, in the near-term he thinks the apparent uptick in Wall Street Journal ad pages will likely be an important driver of the stock.

The Good Business Issue

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus