Analyst Rankings: Pressing the Publishing Experts

This week, in our focus on the winning analysts in each industry category from our Analyst Rankings -- Equity 2000, we profile the top analysts tracking publishing and printing. Next week we'll look at casinos and gaming. (Our last focus was on automobiles.)

One of this week's winners will prove to be correct. Both cannot be. William Drewry, Credit Suisse First Boston's publishing analyst, paints a rosy scenario for this group, picturing an economic rebound this year that will cause newspaper earnings to improve quarter by quarter and stock prices to follow suit. Merrill Lynch's Lauren Rich Fine, on the other hand, doesn't envision positive announcements on newspaper earnings or stocks "any time soon." (Third-place winner William Bird was not available for an interview.)

The Winners

By name By category By firm Best stock pickers Best firms

If you're in Drewry's camp, you believe not only that earnings will be consecutively strong, but also that the Internet, far from being a threat to the print media, is actually helping profitability and that the industry is poised to consolidate once cross-ownership rules are deregulated by the Federal Communications Commission. The stocks that will perform best in the coming months, Drewry and his supporters say, are Gannett (GCI Quote), the New York Times Co.(NYT Quote) and E.W. Scripps(SSP Quote).

But if you share Fine's outlook, you're worried about declining advertising revenues and are concerned that, no matter when the economy ticks up and how much interest rates are lowered, the stocks have already factored in those pieces of potential good news. Anyone wanting to play the sector, according to Fine, would be best served by holding off until the second quarter. She agrees with Drewry, though, that Scripps and the New York Times Co. are among the strongest names in the group.

Publishing and Printing

	1st Place
	William Drewry Credit Suisse First Boston (See Report Card)

	2nd Place
	Lauren Rich Fine Merrill Lynch (See Report Card)

	3rd Place
	William Bird Salomon Smith Barney

	4th Place
	Kevin Gruneich Bear Stearns

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Which stock do you like best? Drewry: Gannett Fine: Scripps