Alert: Rating Downgrade (12/15/23)-TEGNA Inc (NYSE: TGNA).


Stock Rating Downgrade

The Value Trend Rating for TEGNA Inc (NYSE: TGNA) weakened in recent days from B to C reflecting eroding fundamentals and low Appreciation Potential. Details supporting this lower rating are included in our next report.


Recent Price Action

TEGNA Inc (NYSE: TGNA) stock declined modestly by -1.2% on 12/15/23. The stock closed at $15.16. Moreover, this decline was accompanied by exceptionally high trading volume at 235% of normal. The stock has performed in line with the market over the last nine months and is unchanged during the last week.

Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, TGNA is expected to continue to be a major Value Builder.

TEGNA has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing contradictory signals. TEGNA has a good Appreciation Score of 85 but a slightly negative Power Rating of 39, triggering the High Neutral Value Trend Rating.

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