Gray Media

GTN · NYSE

$4.63+$0.15 (+3.35%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $4.48

GTN analyst rating

BuyConsensus of 5 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy4
Hold1
Underperform0
Sell0

12-month price target · 6 analysts

Average $6.83 (+47.6% upside)

Low: $3.03
Now: $4.63
High: $11.55

Upgrades and downgrades

The latest rating actions, newest first

GTN analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Guggenheim	May 15, 2026	Maintains	Buy	$8.00 → $7.00	45%
Barrington Research	Apr 28, 2026	Maintains	Outperform	$6.50	58%
Guggenheim	Mar 4, 2026	Maintains	Buy	$7.00 → $8.00	45%
Barrington Research	Mar 3, 2026	Maintains	Outperform	$6.50	58%
Wells Fargo	Mar 2, 2026	Maintains	Equal-Weight	$5.50 → $6.00	53%
Benchmark	Feb 27, 2026	Maintains	Buy	$10.00 → $12.00	61%
Benchmark	Nov 10, 2025	Maintains	Buy	$9.00 → $10.00	43%
Wells Fargo	Nov 10, 2025	Maintains	Equal-Weight	$5.00 → $5.50	53%

The case for and against

Updated Aug 18, 2026

Bull case

Gray Media is a strong and promising investment with a positive outlook due to its strong fourth quarter results, consistent growth through broadcast and digital advertising, and proactive approach to deleveraging through strategic acquisitions and expense management. Political advertising campaigns provide a significant revenue stream for the company, and its high-quality station group and focus on CTV inventory make it a highly competitive player in the media market. Risks include declining advertising demand and potential disruptions in retransmission agreements, but overall, the company's financial strength and strategic positioning make it a compelling investment opportunity.

Bear case

Gray Media is facing significant challenges in the current media landscape, as cord-cutting and a shift to digital advertising are impacting both ad revenue and retransmission fees. Additionally, the company's high level of debt and reliance on political advertising make it vulnerable to economic downturns and disruptions in the political cycle. Despite its strong market position and cost control measures, Gray Media faces considerable risks and limitations that make it a risky investment.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.