Analysts covering both the credit prospects and the stock price of The New York Times Co. have issued favorable forecast’s for the newspaper publisher’s future, says Editor & Publisher.
Standard & Poor’s, which evaluates the likelihood that an entity will pay a lender back, said it is considering upgrading its current junk-level rating on the Times Co., citing a mellowing of revenue declines.
As for the company’s share price, research company Morningstar announced it would consider changing its estimate of the stock’s value. A new analysts will begin coverage of the Times. Previously, Morningstar had valued the stock at $4. Shares of Times Co. currently trade around the $11 to $12 area.
The Times earlier this week announced solid first-quarter results, swinging to a profit of $52.7 million from a loss of $61.7 million a year ago.