Deutsche Bank Upgrades CTC Media (CTCM) to Buy; Attractive Upside

July 13, 2012 7:44 AM EDT Send to a Friend
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Price: $9.49 +0.85%

Rating Summary:
    0 Buy, 5 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 14 | New: 38
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Deutsche Bank upgraded CTC Media (NASDAQ: CTCM) from Hold to Buy, lower price target of $9.50.

Deutsche analyst said, "We have updated our CTC Media model, incorporating our more conservative estimates for CTC Media's audience share as a result of weak ratings for the flagship channel in 2Q12 as well as the latest FX and macro forecasts. We reduce our earnings estimates by 11-24% in 2012-14F and cut our target price by 21% to USD9.5. However, we upgrade the stock to Buy due to attractive upside to our target price, dividend yield and discount to peers."

For an analyst ratings summary and ratings history on CTC Media click here. For more ratings news on CTC Media click here.

Shares of CTC Media closed at $7.73 yesterday.




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