Benchmark Reiterates Hold on the McClatchy Company

Benchmark reiterated its Hold rating on the McClatchy Company MNI. In a research report published today, Benchmark stressed it believes the company to return to positive growth this year. In the report, Benchmark states, "We do not see a return to positive growth this year, though McClatchy is expected to remain profitable and have positive cash flow. The 2010 debt reduction and restructuring seems to have removed any imminent threat of financial difficulty. Also, the Company's digital interests, including 14% of CareerBuilder, 26% of Classified Ventures, and 33.3% of HomeFinder, provide some asset support. As a result, we remain cautious toward the stock near-term but maintain a Hold rating." On Wednesday, McClatchy added 0.4% to its value to finish the day at $2.90.