JANCO Partners Upgrades Central European Media Enterprises (CETV) to Buy

JANCO Partners upgraded Central European Media Enterprises (NASDAQ: CETV) from Accumulate to Buy. PT increased from $22 to $27.

JANCO analyst says, "The company’s focus on maintaining market leadership in each of its markets should place the company in a strong position to benefit from the market recovery. We believe that the company’s disciplined pricing approach and focus on cost control should help CME realize margin expansion with revenue growth. Therefore, as the company’s revenues grow, the operating leverage should allow the OIBDA growth to outpace the topline growth. While the overall uncertainty surrounding the magnitude of the recovery still remains, we are extending our estimates to 2012 modeling a 10% revenue growth and 20% OIBDA growth to $891 million and $207 million, respectively."

For more ratings news on Central European Media Enterprises click here and for the rating history of Central European Media Enterprises click here.

Shares of Central European Media Enterprises closed at $22.15 yesterday.

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