Nomura Securities Reiterates a 'Neutral' on Virgin Media (VMED); Remain on the Fence
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Price: $51.00 --0%
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities reiterates a 'Neutral' on Virgin Media (NASDAQ: VMED).
Nomura analyst, Henrik Nyblom, said, "Reiterate rating post last week’s broadly in-line Q1 results. VMED reported Q1 rev of £982.3m (+5.7% y-o-y), broadly in line with our forecasts as strong B2B revenues offset a weak mobile performance. We have only made minor changes to our forecasts, but have raised our price target by c.5% to $33.50 per share to reflect the translation effect from recent USD weakness. View the stock as attractive relative to peers in terms of valuation; however, we remain on the fence as we see 2011 as a transition year with still limited visibility."
For more ratings news on Virgin Media click here and for the rating history of Virgin Media click here.
Shares of Virgin Media closed at $29.74 yesterday.
Nomura analyst, Henrik Nyblom, said, "Reiterate rating post last week’s broadly in-line Q1 results. VMED reported Q1 rev of £982.3m (+5.7% y-o-y), broadly in line with our forecasts as strong B2B revenues offset a weak mobile performance. We have only made minor changes to our forecasts, but have raised our price target by c.5% to $33.50 per share to reflect the translation effect from recent USD weakness. View the stock as attractive relative to peers in terms of valuation; however, we remain on the fence as we see 2011 as a transition year with still limited visibility."
For more ratings news on Virgin Media click here and for the rating history of Virgin Media click here.
Shares of Virgin Media closed at $29.74 yesterday.
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