Why Gray Media Stock Slumped by Nearly 3% Today
An analyst's price-target cut was the news dinging Gray Media (NYSE: GTN) stock on the second trading day of the week. Even though that reduction wasn't dramatic, it nevertheless affected sentiment on Gray, and its share price dipped by almost 3%. That was a steeper fall than the S&P 500 index's 0.8% Tuesday decline. The pundit behind the cut was Benchmark's Daniel Kurnos, who now feels Gray is worth $7 per share rather than the $8 he previously estimated. The analyst maintained his existing buy recommendation on the stock despite the move. Image source: Getty Images.Continue reading
An analyst's price-target cut was the news dinging Gray Media (NYSE: GTN) stock on the second trading day of the week. Even though that reduction wasn't dramatic, it nevertheless affected sentiment on Gray, and its share price dipped by almost 3%. That was a steeper fall than the S&P 500 index's 0.8% Tuesday decline.
The pundit behind the cut was Benchmark's Daniel Kurnos, who now feels Gray is worth $7 per share rather than the $8 he previously estimated. The analyst maintained his existing buy recommendation on the stock despite the move.
Image source: Getty Images.
