The reinstatement of coverage by JP Morgan with a Neutral rating and a specific price target provides investors with a professional analysis of Tegna's stock value. While a Neutral rating does not suggest significant upside or downside, the setting of a price target can serve as a benchmark for investors, potentially leading to a stabilization of the stock price around the target if the market aligns with the analyst's view. The confidence level is high due to the credibility of JP Morgan as a financial institution, but not at maximum because market conditions and other unforeseen factors can affect stock performance.