Argus raised its price target for The New York Times Company (NYSE: NYT) to $88 from $84. The research firm maintained its Buy rating on the stock.
Analysts credited a two-year strategy focused on expanding the digital subscriber base. The company effectively converted trial users into full-paying subscribers through promotional offers.
Argus highlighted the success of bundling news with lifestyle products like Games, Cooking, and The Athletic. The firm views this multi-product approach as a key driver for continued growth.