The Share Price Humiliation Continues At The New York Times (NYT)
July 2, 2007 by Douglas A. McIntyreGoldman Sachs made about as brutal a call as it could have on The New York Times Company (NYT). It added it to its American Investments Sell List.
The price target was set at $18. On Friday, the shares closed at $25.40, so Goldman believes the shares will drop almost 30%.
While all newspaper groups are doing badly and many have lost 40% of their market caps over the last two years, the Times has moved up some recently, perhaps on some hope that if Dow Jones (DJ) can be sold, so can NYT.
But, that bubble is bursting.
Douglas A. McIntyre
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