Deutsche Bank Downgrades McClatchy, Raises NYT

By: E&P Staff

Deutsche Bank analysts downgraded the McClatchy company from “hold” to “sell” on concerns about its high-leverage and large market profile. The research firm also lowered its price target on McClatchy from $9 to $5.

Meanwhile, DB also raised its rating on The New York Times Co. from “sell” to “hold” with a $15 price target. The research firm likes the company’s long-term growth prospects.

As of late morning, McClatchy (NYSE:MNI) is trading down 52 cents to $6.26. The New York Times is trading up 16 cents to $15.55.

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