New York Times price target raised to $45 from $42 at Morgan Stanley

Morgan Stanley raised the firm’s price target on New York Times to $45 from $42 and keeps an Equal Weight rating on the shares. Subscriber upside in Q3 reflects accelerating Bundle adoption, which is “encouraging for penetration and has potential to build pricing power over time,” but a decreased emphasis on single product adoption is offsetting this, leaving the overall addressable market “still uncertain,” the analyst tells investors.