Magazine article Editor & Publisher

DB Raises 'Washington Post' to Buy

Magazine article Editor & Publisher

DB Raises 'Washington Post' to Buy

Article excerpt

Deutsche Bank upgraded its rating on The Washington Post Co. from "hold" to "buy" citing the company is not getting enough credit for its education division.

"We think the Washington Post Co. is now a solid counter-cyclical play against an economic slowdown and potential employment malaise," wrote DB analyst Paul Ginocchio, noting that about 30% of the company's EBITDA exposure is to its education business.

Education stocks are on the upswing while the Washington Post has shown tepid growth. According to the note, year-to-date, education stocks tracked by DB are up 60% while the Washington Post is up only 7.5%. "We think the Washington Post continues to trade like a local media name, even though it's really now an education company."

The company is also poised to see good results from its cable division and broadcast division -- thanks to political advertising and stations in the battleground states of Florida and Michigan.

Even its flagship newspaper is showing better results than other metro dailies across the country, DB maintains. …

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