Not surprised... Not surprised by the 'sell' recommendation and the negative G&M article today.
I understand what is going on with the Canpages re-organization, and from what I am seeing few analysts do. They are really thick... dumb as a door knob... ignorant... can find the nose on their face...
From an organizational standpoint it is really positive. Print is declining but still a very strong presence in the media world. YM is reorganizing thier print operations, consolidating yellow page books, all to make the remaining print operations more efficient and cost effective. With these changes, YM will likely to maintain the gross margin on the print operations, and perhaps even increase it.
On the online side, again, they've taken the best from Canpages and use to improve the YM brand.
YM is finally going after the synergies such an acquisition should provide and make it accretive to the bottom line.
Kudos to them for doing the right thing. IMHO, YM will survive and become enrich us all.
mNm