New York Times’ stock price has increased by almost 20% over the course of 2018, primarily driven by this impressive digital subscriber growth. Our interactive dashboard provides a scenario in which the company’s stock could reach $30 in the near term, driven by accelerating subscriber additions. In this scenario, we forecast the company’s digital subscriber base to grow to 3.9 million in 2019, compared to our base case forecast of 3.4 million. Overall, NYT’s online subscriber base has grown from 800,000 in 2013 to 3.1 million in Q3 2018. In addition, we have increased our P/E estimate to 26.5x in our bull case, up from 24.3x in our base case, as the higher growth trajectory would justify a higher multiple.

Source: Forbes December 21, 2018 14:37 UTC