JANCO Partners Resumes Coverage on Central European Media Enterprises (CETV) at Buy, Buy on Current Weakness

JANCO Partners is resuming coverage on shares of Central European Media Enterprises (NASDAQ: CETV) with a Buy rating and $19 price target.

The firm reports that shares have fallen over 50 percent since the company released its Q2 results, which topped expectations, and would take advantage of the current price to increase its stake in the company. JANCO notes that the drop in price was due to macro concerns regarding the market and advertising visibility.

The company has diversified its revenue portfolio and continues to keep expenses low by leveraging quality content. CETV has remained to at the top in all six of its markets for audience volumes and the firm believes that it will continue to gain market share.

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 $7.29 yesterday.

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