Bank of America rates New York Times Neutral, citing strong digital growth but limited upside.

Bank of America initiated coverage of The New York Times Company with a Neutral rating and an $84 price target, highlighting its successful shift to a subscription-driven digital platform. The company’s bundled subscription model now generates nearly 70% of revenue, supporting stable cash flow and financial growth, with 9.2% revenue growth in 2025 and margin expansion. While digital advertising and new ventures like AI licensing with Amazon offer future revenue potential, the stock’s valuation is considered stretched after a 65% rise in the past year, limiting near-term upside. Bank of America forecasts steady revenue and profit growth through 2028 but sees the current price as fairly valued.