Research Firm: New York Times Co. Stock Is Overvalued
Shares in The New York Times Co. (NYT) rose 6.6% Monday on its announcement of the “Press Engine,” a service that aids other publications in developing applications for mobile devices like the iPad.
Shares have fallen some after yesterday’s surge — down 3.8% at $8.97 in late-afternoon trading — but according to a brief from research firm Morningstar reported by Editor & Publisher,, the stock’s price is still too high:
“New York Times’ shares are overvalued, in our view,” analyst Joscelyn MacKay writes in the note from the Chicago-based independent research firm.
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