Susquehanna Downgrades AirMedia Group (AMCN) to Neutral
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Susquehanna downgrades AirMedia Group (Nasdaq: AMCN) from Positive to Neutral.
Susquehanna analyst says, "We are lowering our rating on AMCN to Neutral from Positive after its shares have reached our price target. AirMedia is aggressively enlarging its ad capacity, but such investments are made when the firm already has excess capacity and when demand for advertising remains weak. Consequently, mounting concession fees will cause the firm to report losses for every quarter in CY09, in our estimation. 2009 appears to be an investment year for AirMedia, and we will revalue the investment opportunity at a later time."
To see more analyst ratings on AMCN Click Here.
AirMedia Group Inc. (AirMedia) operates a digital media network in China dedicated to air travel advertising.
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