Jim Cramer on Gray Media: "They're a Survivor"

Gray Media, Inc. (NYSE:GTN) is one of the stocks on Jim Cramer’s radar. A caller asked for Cramer’s take on the stock, and he stated:

“They’re a survivor, they’re survivors. Does that mean it’s enough… for me to pull the trigger? Not after the run it’s had. But I’ve gotta tell you, they’re a survivor. They’re a good spec, even at this price.”

Gray Media, Inc. (NYSE:GTN) operates television stations and digital platforms while also running a digital marketing agency, video production companies, and studio facilities. Miller Value Partners stated the following regarding Gray Media, Inc. (NYSE:GTN) in its Q1 2025 investor letter:

“During the quarter, the strategy’s largest positive contributor was Gray Media, Inc. (NYSE:GTN), with shares up +37%. Gray significantly lagged the strategy during the back half of 2024. While the company’s political advertising led the overall market, it fell below market expectations. Gray continues to generate strong free cash flow and successfully paid down more than $500M of debt during the past year. While the company has significant debt leverage, Gray has a much smaller amount of debt maturities over the next two years. Marketplace expectations for Gray’s future retransmission revenues remain very low providing a nice ongoing variant as management focuses on improving long-term retransmission agreements. Near-term risks include an advertising recession; auto advertising may be weaker over the coming months; however local advertising has so far remained resilient. Gray has the potential to deliver strong free cashflow next year and $2B+ over the coming 5 to 6 years. Ongoing debt reduction should accrue to the equity over time. We see long-term upside potential multiples of the current share price.”

While we acknowledge the potential of GTN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.