Benzinga | Sep 22, 2021 01:51PM EDT

Barrington Downgrades Tegna To Market Perform - Read Why

* Barrington analyst James Goss has downgraded Tegna Inc (NYSE:TGNA) to Market Perform from Outperform without a price target.

* Goss said reported takeover offers of $22 and $23 per share present fair value for the company.

* While there is the potential for a bidding war to push the price higher, "this would be speculative as a play for additional upside," Goss noted.

* Price Action: TGNA shares traded lower by 0.37% at $21.70 on the last check Wednesday.