>BLC is still a Buy

October 6, 2009

>Our presenter still likes Belo Corp (NYSE: BLC, $5.39), despite an impressive move from $2.02, where the name was recommended back in June. He is adding to his holding. The stock was beaten down on concerns the company may not survive, but investors are feeling more comfortable about Belo’s ability to service its debt. The key catalysts for Belo will be mid-term elections next year, Winter Olympics, and a pickup in auto advertising, which contributes 25% of local ad spend. Easier comps should also help. The presenter believes the stock might have another $4-5 of upside left

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