Goldman Sachs Downgrades CTCM, Upgrades CETV
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Goldman Sachs downgrades CTC Media, Inc. (Nasdaq: CTCM) from Buy to Neutral, while upgrading Central European Media Enterprises Ltd. (Nasdaq: CETV) from Neutral to Buy.
The firm notes that CTCM has outperformed CETV by 50% over the last six weeks.
The firm lifted their price target on CTCM from $17.60 to $18.50, representing 12% upside. The firm has a $33 price target on CETV.
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