CareerBuilder.com Boosts Gannett: Analyst

NEW YORK ( TheStreet) -- Gannett ( GCI) shares are gaining today after media analyst John Janedis of UBS upped his price target on the stock to $15 from $13 driven by his revised impact of its job recruitment site, CareerBuilder.com.

Gannett will benefit from the gains at CareerBuilder as the online recruitment industry continues to grow said Janedis in a Jan. 14 research note.

The recent expansion of jobs site companies such as Monster Worldwide ( MWW) and Dice Holdings ( DHX) prompted Janedis to review his valuation methodology on Gannett's 50% stake in CareerBuilder.com. His review determined that the overall impact on its valuation on Gannett is about $2 a share.

Oppenheimer analyst Glenn Greene believes that Monster has been gaining strength in the jobs site industry and predicts the company's revenue will be up 20% in fiscal year 2010.

"We continue to see evidence of a gradually improving employment environment, which suggests a healthier sales climate for Monster Worldwide," Greene said in a research note.

As the job market recovers, Janedis raised his Gannett price target by $2 to $15 and maintained his neutral rating on the stock.

He predicts Gannett's fourth-quarter revenue will come in at $1.47 billion and forecasts earnings of 80 cents a share.

Gannett shares are up 0.9% to $14.90.

-- Written by Theresa McCabe in Boston.

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