Ramish Cheema
2 min read
We recently published Bill Miller Portfolio: Top 10 Stock Picks. Gray Media, Inc. (NYSE:GTN) is one of the top stock picks.
Gray Media, Inc. (NYSE:GTN) is one of the largest television operators in America, known for running NBC and ABC affiliates. The shares are down by 29.5% over the past year and by 21% year-to-date. The firm is currently busy expanding its operational portfolio across America. On July 1st, Gray Media, Inc. (NYSE:GTN) announced that it would purchase six television stations from American Spirit Media for a $50 million price tag. The six stations that are part of the deal are DMA 81, DMA 100, DMA 125, DMA 126, DMA 149 and DMA 176. They are spread across Ohio, Mississippi, North Carolina, Georgia, Texas and Louisiana. As part of the deal, Gray Media, Inc. (NYSE:GTN) has already paid $40 million to American Spirit and funded a portion of the deal through a debt offering.
Earlier in the year, Guggenheim cut Gray Media, Inc. (NYSE:GTN)’s share price target to $6 from $7 and kept a Buy rating on the stock. The coverage came after the television network operator’s first quarter earnings, which saw it post $768 million in revenue and a $33 million net loss.
While we acknowledge the risk and potential of GTN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GTN and that has 10,000% upside potential, check out our report about the cheapest AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.
Disclosure: None. Follow Insider Monkey on Google News.
