Wednesday, January 19, 2022

Lee Enterprises, Inc. (LEE)
Leaning Into A Digital Future

Lee Enterprises Inc is a local news publication company in the United States. Its products include daily and Sunday newspapers, weekly newspapers and classified and few other specialty publications. Its products are used as a platform for advertising in mid-size markets. Revenues are generated primarily from retail and classifieds advertising and the remaining from subscriptions to its printed and digital products.

Michael Kupinski, Director of Research, Noble Capital Markets, Inc.

Patrick McCann, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating with an Outperform rating. We are initiating coverage of Lee Enterprises with an Outperform rating. We believe the company is maneuvering well into a digital future. Some of the key reasons for this include the company’s industry leading cash flow margins, manageable debt, and comprehensive digital strategy. The company’s shares also appear to be undervalued, which will be discussed later, as Lee tends to go unnoticed in comparison to some of its large-market focused peers.


Cycling towards growth.  The newspaper industry has consolidated over recent years and revenues from the traditional print business have declined significantly. As the industry has moved to embrace a digital business model, however, revenue declines are moderating. We believe industry will soon bottom and may begin growing again as a primarily digital business …

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.