Quad/Graphics rises after Barrington initiates with 'outperform'

Quad/Graphics

12/07/2023 16:46

** Shares of commercial printing services co Quad/Graphics
 QUAD.N  rise 12.4% to $4.7, their highest in four months
    ** Stock set to post best day since Dec. 27 if gains hold
    ** Brokerage Barrington Research initiates coverage with
"outperform" rating and sets PT of $9, citing stock is
"significantly" undervalued relative to its long-term prospects
    ** Says despite distress in printing business, QUAD is
gaining market share on strength from its continued investments
and financial stability 
    ** "Quad's ability to provide end-to-end marketing solutions
 is unmatched in the marketplace and is acting as a competitive
differentiator" - Barrington
    ** Sees long-term revenue growth for the co, aided by
stronger integrated marketing solutions 
    ** Stock has risen 15.44% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))