Gannett Stock Slumps on Analyst’s Valuation Concerns

MarketWatch: Shares of Gannett sumped 4.5% in afternoon trading Monday after FBR & Co. downgraded the broadcast, digital and print media company, citing concerns about valuation and contract renegotiations. Analyst William Bird cut his rating to market perform after being at outperform for the last year and a half. He kept his stock price target at $38, which is just above the seven-year closing high of $37.39 reached on Thursday.