DB Downgrades Tribune

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By: E&P Staff Deutsche Bank lowered its rating on Tribune from "buy" to "hold."

In a note to investors, Deutsche Bank analysts wrote that while the Tribune private transaction will likely close at $34 per share, there's little upside in the stock.

"While the stock does not yet trade at the time value of money, the 2% upside to the tender price versus the significant potential downside makes us now feel like this is a good time to close out our call."

As of mid-afternoon, Tribune was trading down 14 cents to $33.17.

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