Reach Plc Share News (RCH)

(Sharecast News) - Analysts at Barclays reiterated their 'equal weight' rating on British newspaper, magazine and digital publisher Reach on Monday, highlighting the firm's "impressive end to the year".Reach said in its pre-close trading update that it anticipates an organic revenue decline of roughly 5%, ahead of the bank's expectations, as a result of an improved showing from its print advertising wing, which had more than offset a weaker digital growth trend.Barclays also noted that Reach had "squeezed out £1m more savings" from the Express and Star deal, contributing to its decision to raise its adjusted operating profit and EPS estimates for fiscal year 2018 by 3%.The revenue also "tweaked" its expectations for the media giant's FY18 revenues higher.Lastly, and as regards the company's cash flow, property sales and lower payments related to Trinity Mirror's phone-hacking hacking scandal led the bank to believe Reach's net debt position was set to improve moving forward."All in, this is an impressive end to the year for an unloved stock. Management is again delivering on cost, but revenues are also slightly better. We do see significant short-term uncertainty from Brexit and so we remain equal weight."Barclays also stood by its 65p target price on Reach, saying it had trimmed its valuation multiples due to the derating seen in peers.