Deutsche Bank Upgrades CTC Media (CTCM) to Buy; Most Risks Priced In
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Price: $2.05 --0%
Rating Summary:
0 Buy, 3 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
0 Buy, 3 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Deutsche Bank upgraded CTC Media (NASDAQ: CTCM) to Buy, but lowers price target to $13.00.
Deutsche analyst says, "The recent share price weakness creates an attractive entry point for long-term investors, in our view. While the near-term outlook for the Russian ad market is a bit cloudy due to macroeconomic risks, we don’t think it is overspent and estimate 16% CAGR in 2010-13F. We expect CTC Media to focus on ratings improvement, and expect flat EBITDA margin. We expect 10% EPS CAGR in 2010-13F. We cut our target price to USD13, reflecting new estimates and lower peer multiples, but its upside potential and 20% discount to peers warrant an upgrade."
For more ratings news on CTC Media click here and for the rating history of CTC Media click here.
Shares of CTC Media closed at $10.11 yesterday.
Deutsche analyst says, "The recent share price weakness creates an attractive entry point for long-term investors, in our view. While the near-term outlook for the Russian ad market is a bit cloudy due to macroeconomic risks, we don’t think it is overspent and estimate 16% CAGR in 2010-13F. We expect CTC Media to focus on ratings improvement, and expect flat EBITDA margin. We expect 10% EPS CAGR in 2010-13F. We cut our target price to USD13, reflecting new estimates and lower peer multiples, but its upside potential and 20% discount to peers warrant an upgrade."
For more ratings news on CTC Media click here and for the rating history of CTC Media click here.
Shares of CTC Media closed at $10.11 yesterday.
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