Friday, July 17, 2009

Morningstar analyst: plenty of room for newspaper stocks to go lower

Morningtsar analyst Tom Corbett says there is plenty of downside potential for newspaper stocks.

“Newspapers' valuations may have cratered from the lofty levels of better times,” he wrote. “However, cutting costs in the face of declining revenue is a survival tactic, not a buy signal.”

Anybody seen a buy signal for MNI stock?
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6 comments:

Anonymous said...

Anybody seen a buy signal for MNI stock?




Only from the Pump and Dump trolls, and McClatchy Fanboys that invade MW on occasion.

Anonymous said...

You mean, it's not simply that darn economy after all?

Jay F said...

I am starting to turn positive after rightfully banging the hell out of this in the past 18 months. I look for the stock to be at $1.65 within the next year. I have also resigned myself to the fact that Pruitt will NOT be fired, and that shareholders are stuck with him.

McClatchy Watch said...

Jay -- $1.65 within the next year?... Hmmm. May I ask if you've risked your own money on MNI stock?

Anonymous said...

I have a better question. Based on what!?


1.65 maybe, after bankruptcy or for a short time if Pruitt is fired. Otherwise, you have no fundamental financial reason to make that call. A contrarian position on this stock is gambling.

Anonymous said...

Jay- LOL, clearly you're not a financial advisor. Good luck with the $ 1.65. May the force be with you.