Gabelli & Co Maintains Buy, $29 Target on Gannett

Gabelli & Co reiterates its Buy rating and $29 target price on Gannett (NYSE: GCI) as the company's 8K provides details on consolidation operations in Ohio.

Gabelli & Co says, "Under terms, the Columbus Dispatch will publish Gannett's Cincinnati and Kentucky Enquirer papers. ...Printing consolidation is one more example of how the company is a savvy, disciplined, free cash flow generator. We continue to estimate about $620 mm of free cash flow in 2012 (before dividends, cash cost of the consolidation and any associated savings)."

GCI closed at $13.27 per share on Wednesday.